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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28082
Experience:  Taxes, Immigration, Labor Relations
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Our joint income is about $100,000. Mine alone is $85,000.

Customer Question

Our joint income is about $100,000. Mine alone is $85,000. Our mortgage,taxes, bills etc come from a joint account,which receives deposits from me only. 2 Questions:Does it pay to file Married Separately?and,2.How would itemized deductions be divided?
Submitted: 10 months ago.
Category: Tax
Expert:  Lev replied 10 months ago.

Generally - based on your information - you would be better to file a joint tax return.

The reason for that - if you file separate tax return - your tax rates would be higher.

To be precised - you would need to prepare tax returns both ways and compare.

If you are using any tax preparation software - there must be an option to compare MFJ vs MFS.

You might want to file separate tax returns for other reasons - for instance if one spouse has unpaid liability and do not want other spouse to be held responsible.

Please be aware that if one spouse itemize - another must itemize even itemized amount is less than standard deduction.

Itemized deductions are divided based on who paid. If paid with community funds - generally divided equally or as spouses agreed.

Expert:  Lev replied 10 months ago.

If you are using any tax preparation software - there must be an option to compare MFJ vs MFS.
You might want to file separate tax returns for other reasons - for instance if one spouse has unpaid liability and do not want other spouse to be held responsible.
Please be aware that if one spouse itemize - another must itemize even itemized amount is less than standard deduction.
Itemized deductions are divided based on who paid. If paid with community funds - generally divided equally or as spouses agreed.
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