Tax Filing Status Separated
Question: I want to change my irs file status from married filing joint to married filing separate?
I’ve been married for over 15 years and have always filed a 1040 itemizing, married filing Joint Return. This year if I do that I have to pay a few hunderd dollars, vs if we file married filing separately, 1040 standard deductions, both my husband and I can get a small return. I no longer have any dependants.
Do we have to live in separate houses?
Do we have to be legally separated to file this way?I’m concerned as how the IRS handles this type of change, it may be no big deal.
I’m sure the IRS will see why we changed our filing status, but do I need to be concerned.
I’ve always have done our own taxes, and when something “changes” I like to know what to look out for?
Thanks for your answers!
Answer: When you file your 2007 return just indicate MFS instead of MFJ. Regular married people file separately all the time. It’s no big deal.
Are you SURE you want to do this? Typically MFJ is better financially than MFS.
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The Family Code of Ukraine of 10 January 2002 No. 2947-III (effective since 2004) ( Family Code ), sets out the basic principles and regulations of property relations of spouses, including civil agreements, which may be entered into by and between spouses.
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Taxable Income Statement
Question: Read the following statement about the 1040 Form and determine if it is True or False?
T or F Standard deductions are listed just above the total Taxable Income on the 1040 tax form.
Answer: false, exemption amount deduction is listed just above total taxable income
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Tax Refund On Donations
Question: 3 Tax Questions : Lease Refund, Car Insurance premium and Donations:?
1- I turned my leased car in and received a refund, do I need to
show it on my taxes when I file, and in which section?
2- Can you claim car insurance premiums? ( I couldnt find anything addressing that on tax slayer)
3- I made a donation to salvation army – about 15 bags of clothes and shoes – they gave me a receipt but they did not itemize -or specify a dollar amount, How should I claim it ?
Thanks
Answer: 1 – No
2 – No
3 – You determine the value. Donations go on Schedule A (Itemized Deductions). If you go over $500, there are more forms to fill out (Form 8283 ?????). Two things to keep in mind. One, used clothing is worth much less than you think and can only deduct its value, not its original cost. Two, donations only get you a tax benefit if you itemize. If you are not paying on a mortgage, you probably won’t have enough to itemize and you will get no benefit from the donation….besides clean closets.
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File 08 Taxes
Question: Will i get the rebate in spring 08 since i filed taxes? After all isn’t it for all tax filers?
I worked but i left my job. I still filed taxes and recieved my check. Will i be elligable for the rebate. I also have a child, will that allow me to get the additional with the rebate.
Answer: It is not for all filers. It is only for filers who report at least a certain amount of income. You may or may not qualify.
Whether you left the job is irrelevant. What matters is how much you made while you were there in 2007.
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