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How To Get Turbo Tax Premier to Calculate Married Filing Separately

Forum|Forum|2 years ago
March 10, 2024
2 replies
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Is there an easy for Turbo Tax to calculate this without me having to file two MFS returns. I make 4x what my wife makes. Filing jointly we get the standard deduction. I'd lose out on $4k in property taxes when we take the standard deduction separately.

I was hoping that TT could do this without me having to complete two other returns.

Any ideas?

Best answer by VolvoGirl

Here's some things to consider about filing separately……

In the first place you each have to file a separate return, so that's two returns. And if you are using the Online version that means using 2 accounts and paying the fees twice. The Desktop CD/Download program would be better to use.

Many people think they come out better when filing Married Filing Separate but they are probably doing it wrong. If one person itemizes deductions on Schedule A then the other one must itemize too, even if it's less than the standard deduction, even if it is ZERO! And if you are in a Community Property state it can be complicated to figure out.

And there are several credits you can't take when filing separately, like the

EITC Earned Income Tax Credit

Child Care Credit

Educational Deductions and Credits

And contributions to IRA and ROTH IRA are limited when you file MFS.

Also if you file Married Filing Separately up to 85`% of your Social Security becomes taxable right away even with zero other income.

See …….

https://ttlc.intuit.com/community/married/help/is-it-better-for-a-married-couple-to-file-jointly-or-separately/00/25590

To compare Joint to MFS. If you are using the Online version, do NOT change anything on your return. You would have to start with a new account and do a test return. You don't have to pay unless you want to print it out. So you might need 3 accounts, one for Joint and two MFS, one for each spouse.

How to Compare Joint to Married Filing Separately

https://ttlc.intuit.com/community/married/help/how-can-we-compare-married-filing-jointly-with-married-filing-separately/00/26551

How to start another return in the Online version

https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-start-another-return-in-turbotax-online/00/25596

It would be better to use the Desktop CD/Download program. It can do unlimited returns and has a What If worksheet to compare them and many other advantages over the online version.

You can buy the Desktop CD/Download program here

https://turbotax.intuit.com/personal-taxes/cd-download/

M

MonikaK1

Because there are many variables, including credits, that may affect whether you are better off filing jointly or separately, it is often best to test the alternatives before deciding.

Depending on other factors, it may still be better to file jointly. If you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin), you will need to split your community income evenly even if filing separately; the rules vary by state. Also, some tax benefits aren't available for Separate filing status.

You can use TurboTax Online to test different scenarios before deciding to file jointly or separately. Click here for more information from TurboTax on how to decide which filing status to choose.

Click here for tax tips for community property states.

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W

wings9798Author

I'm in Illinois so community property doesn't apply.

I don't qualify for EIC, or child credits.

I do not receive Social Security

VolvoGirlAnswer

Employee

Here's some things to consider about filing separately……

In the first place you each have to file a separate return, so that's two returns. And if you are using the Online version that means using 2 accounts and paying the fees twice. The Desktop CD/Download program would be better to use.

Many people think they come out better when filing Married Filing Separate but they are probably doing it wrong. If one person itemizes deductions on Schedule A then the other one must itemize too, even if it's less than the standard deduction, even if it is ZERO! And if you are in a Community Property state it can be complicated to figure out.

And there are several credits you can't take when filing separately, like the

EITC Earned Income Tax Credit

Child Care Credit

Educational Deductions and Credits

And contributions to IRA and ROTH IRA are limited when you file MFS.

Also if you file Married Filing Separately up to 85`% of your Social Security becomes taxable right away even with zero other income.

See …….

https://ttlc.intuit.com/community/married/help/is-it-better-for-a-married-couple-to-file-jointly-or-separately/00/25590

To compare Joint to MFS. If you are using the Online version, do NOT change anything on your return. You would have to start with a new account and do a test return. You don't have to pay unless you want to print it out. So you might need 3 accounts, one for Joint and two MFS, one for each spouse.

How to Compare Joint to Married Filing Separately

https://ttlc.intuit.com/community/married/help/how-can-we-compare-married-filing-jointly-with-married-filing-separately/00/26551

How to start another return in the Online version

https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-start-another-return-in-turbotax-online/00/25596

It would be better to use the Desktop CD/Download program. It can do unlimited returns and has a What If worksheet to compare them and many other advantages over the online version.

You can buy the Desktop CD/Download program here

https://turbotax.intuit.com/personal-taxes/cd-download/

W

wings9798Author

Thanks for the reply. My responses to your comments are below

And there are several credits you can't take when filing separately, like the

EITC Earned Income Tax Credit - I don't qualify for

Child Care Credit - Not Applicable

Educational Deductions and Credits - We don't qualify for in filing MFJ

And contributions to IRA and ROTH IRA are limited when you file MFS. - We don't qualify to make any contributions MFJ

Also if you file Married Filing Separately up to 85`% of your Social Security becomes taxable right away even with zero other income. We don't claim Social Security