Tax question

[Rootskate]

Does anyone know.......

If our filing status last year was "married filing jointly" can we switch it to "married filing seperately" this year?

Thanks!

 

[coles1mom]

Does anyone know.......

If our filing status last year was "married filing jointly" can we switch it to "married filing seperately" this year?

Thanks!

Check your state law as well, if file seperate on Fed. you also need to file the same on state, at least in Michigan.

 

[Rootskate]

Thanks

 

[Cheshire Figment]

Yes, you can.

But the real question is why????!!!

The only time I have ever seen it worthwhile in almost 40 years of professional tax preparation are one of the three following reasons:

1. One spouse has very high medical expenses paid and it is advantageous to take advantage of the smaller dollar amount of the 7.5% floor on medical expenses.

2. One spouse has very high deductible miscellaneous expenses paid and it is advantageous to take advantage of the smaller dollar amount of the 2.0% floor on miscellaneous expenses.

3. There is reason to believe that one spouse is committing tax fraud and the other spouse does not what to sign the return.

But try it both ways and you will generally find the MFJ is more toward your advantage then MFS. Minor note, if one spouse itemizes, the other must also itemize.

Mike (CPA Retired)