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Financial Planning / Tax Strategies


Subject:  Marriage Tax Break Date:  7/20/1998  9:24 PM
Author:  gtorres1 Number:  4522 of 127611

I am trying to determine the impact of my wife and I filing seperately until the new marriage taxbreak takes effect next year. I've been able to calculate, using TurboTax planner, that if I place all our assets in my name and take all the deductions, our combined tax liability is less than if we file jointly. But I can't find anywhere that this strategy is acceptable by the IRS. Do I have to change the co-ownership of mutual funds and other assets? Can I switch back to joint filing the following year without incurring some awful spanking?


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