Can I save on taxes by filing a separate return, instead of filing jointly with my spouse?
A. You sometimes may benefit from filing separately instead of jointly. Consider filing separately if you meet the following criteria: one spouse has large medical expenses, miscellaneous itemized deductions, casualty losses and the spouses’ incomes are about equal. Separate filing may benefit such couples because the adjusted gross income “floors” for taking the listed deductions will be computed separately.
Related Questions
- Can a spouse in a same-sex marriage who files a California married filing jointly return exclude up to $500,000 of capital gain on the sale of a principal residence?
- Can I ever save on taxes by filing a separate return instead of filing jointly with my spouse?
- Whats the penalty for late filing an S corporation return?
