Married Filing Separate in Connecticut

Forum|Forum|2 years ago
January 25, 2024
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My wife lives and works in Connecticut. I moved to Tennesse where I now live and work. We are filing a joint Federal Tax Return. We plan to file Married Filing Separate Connecticut Tax Returns since I was a resident for 2 months before I moved away from Connecticut. How do we treat joint investment income? Can we split it?

Thank you.

DMarkM1

Yes. You can split the income. Typically you will split the income based on percentage of investments made by each of you however you can split it 50/50 as well.

For the joint federal indicate that you both own the investments and enter all forms as normal. When you create the mock federal separate returns you will each only enter your portion of the investment income as if you each received a 1099 for your respective portions. This done only to allocate the correct income to each person for the married filing separate state returns.

Further, when you are working your CT separate "Part-year" return, you will only need to allocate to CT the part of your split earned/paid during the 2 months you were resident in CT.

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