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My wife and I file a joint return she makes much more than

I , about 1/2 or...
My wife and I file a joint return she makes much more than I , about 1/2 or less , for paying my share of the taxes would it be better for me to file separately or is it the same amount keeping it as it is joint
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Answered in 1 minute by:
10/11/2017
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,869
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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It comes down to the actual dollar amount for each of you. There are benefits to filing a joint tax return with your spouse. The IRS allows joint filers one of the largest standard deductions each year, allowing them to deduct a significant amount of their income immediately.

Joint filers mostly receive higher income thresholds for certain taxes and deductions – this means they can earn a larger amount of income and potentially qualify for certain tax breaks.

Separate tax returns may give you a higher tax with a higher tax rate. The standard deduction for separate filers is far lower than that offered to joint filers. They also cannot take the deduction for student loan interest, or the tuition and fees deduction.

The best way to find out if you should file jointly or separately with your spouse is to prepare the tax return both ways.

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Customer reply replied 1 month ago
We file itemized deductions with Amt kicked in , I’m thinking that if we file separate then amt won’t kick in ?

You can split the itemized deductions on the separate returns or just claim what you each actually pay. But if you file separate you both have to itemize or use standard.

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Customer reply replied 1 month ago
I filed an extension in April can I amend that extension to two separate if I want to file separately

No, you just each file separate or file together by October 15th. You do not amend the extension.

A positive 5 star rating is appreciated so I am credited for assisting.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,869
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified
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Category: Tax
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Experience: 15years with H & R Block. Divisional leader, Instructor

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