Should my wife and i file as residents, even though we switched to F1 last year, after switching from H1B/H4?

@Shaddymens ,  not knowing your full  US  stay details, I can only say that generally  F-1 students are  exempt individuals  for FIVE Calendar years -- for purposes of  Substantial Presence Test.

However,  for the 2024 , the  days present in the USA till the date  status adjustment will still count towards  SPT.  Thus I suspect you would be  still a Resident for Tax purposes for 2024 tax year -- file  a 1040 and MFJ.

For 2025  through 2028 you may still be under  exempt days ( not counting days present ).  Obviously this is valid if and only if you meet the  conditions of the student visa  and/or show  a closer connection to your home country.  Thus you will file as Married, each separately and on form 1040-NR ( not supported by TurboTax -- check with your school Foreign Student Office )

I will be amiss if I did not suggest that you keep good records  and tread carefully to comply  with  work restrictions  etc. if only because   adjustment from  H-1B to F-1 is not usual -- it is generally the other way.

Is there more  can do for you ?