What is the name of your state?
Rhode Island
Under what circumstances is it better to file "married filing separately" than "married filing jointly"? My wife and I are not thrilled with our anticipated refund, and were wondering if we would get more $$ if we did not file jointly.
We both have large amounts of student loan interest paid that is currently limited by the mechanics of the worksheet.
We own a home that we bought this year.
If we filed separately, what happens with deductions? In other words, I assume that we cannot BOTH use the same itemized deductions....but do we split this amount? Or does one of us use it and the other one just use std. deduction?
Rhode Island
Under what circumstances is it better to file "married filing separately" than "married filing jointly"? My wife and I are not thrilled with our anticipated refund, and were wondering if we would get more $$ if we did not file jointly.
We both have large amounts of student loan interest paid that is currently limited by the mechanics of the worksheet.
We own a home that we bought this year.
If we filed separately, what happens with deductions? In other words, I assume that we cannot BOTH use the same itemized deductions....but do we split this amount? Or does one of us use it and the other one just use std. deduction?
