Thursday, May 13, 2010

Can I amend tax return from Married Jointly to Married Single?

I am changing a tax return from Married Jointly to Married Single? I am going to complete the standard deduction. Do I need supply my soon to be separated spouse with paperwork? What happens if he does not file a amended return?Can I amend tax return from Married Jointly to Married Single?
There is no such filing status as married single. You can amend a joint return to married filing SEPARATELY up until the due date of the return, 4/15. After that, you can't amend from joint to separate.Can I amend tax return from Married Jointly to Married Single?
Once you file jointly you cannot amend to any other status after the due date. IF you had both filed married separate and then amended to married joint that is ok. Below is a link to the actual form. You need to wait for your original return to be processed before sending in the amended or it will confuse the IRS. If it is not done by the due date then you cannot amend from mfj to mfs.





There is no rule that says your spouse has to change status and file an amended. IF it isnt advantageous it isnt worth it. If he doesnt then you cannot.





If you file married separate you both have to take the standard deduction or you both have to itemize. If you take the standard deduction first and he has a mortgage to itemize then he looses the chance and looses a lot of money. If he itemizes first then you have to and you lose.





Usually you are better off to file jointly.
Since you already filed a joint return, BOTH of you must amend to Married Filing Separately. If EITHER of you itemizes your deductions on your separate returns, BOTH of you must itemize even if this means that one of you must use a standard deduction of $0.





To avoid any problems you need to coordinate your amended separate returns or you may both have a mess on your hands.





You only have until April 15th to sort this out. After the filing deadline, you cannot amend a joint return to separate returns.
If you were married on December 31, you really only have two choices - married filing jointly and married filing separately. There is a little known exception if your spouse lived apart from you for all of the last six months of the year, but that rarely applies to anyone.





In just about all cases, you will pay significantly more in tax to file married separately than married filing jointly. You won't get the full standard deduction for example.





But, if you are decided to do it, you should notify your spouse to do the same. just be aware that the tax bill for both of you will go up substantially.





If this is really a case of ';who gets the refund'; then that is something that should be worked out in your divorce settlement. Don't pay the IRS more than you need to because the divorce isn't settled yet.





Good luck.

No comments:

Post a Comment