If you're in the middle of a break-up and you don't trust your spouse, it might make sense to consider filing separate income tax returns with the IRS. Just make sure you aren't losing a slate of credits in the process.
If you and your estranged spouse are leading separate lives in separate homes, you might be thinking of filing your taxes that way, too.
In the 2016 tax year, the IRS received 3.07 million income tax returns using the"married filing separately" status.Be aware that just because you can turn in separate tax returns to the IRS doesn't mean that you should. Here, giving up the responsibility for the accuracy of your spouse's return trumps any tax savings you'd otherwise get from filing jointly, he said.Under the new tax law, filers who itemize on their returns may claim medical expenses only to the extent they exceed 7.5 percent of adjusted gross income for 2018.
As a result, people who might have itemized in previous tax years might be better off taking the standard deduction. For couples filing separately, that's not always an option. Couples in which each partner files a separate Form 1040 are also precluded from claiming the student loan interest deduction, which allows you to deduct up to $2,500 in interest paid during the year.
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