The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  More CA MFS Questions Date:  4/15/2011  11:45 PM
Author:  rosewine Number:  113142 of 127753

I hate asking this on 4/15 but if I don't get this finished by Monday, I won't get paid for doing it.

Most of the income items are the same as 2009, but from the reading I've done, I don't think the California preparer divided it correctly last year. It appears that Wages and Schedule C income should be split as should deductions for community property but what about unemployment (on federal) and withdrawals from a 401K plan? Individual Retirement accounts are individual so it seems like the 401K withdrawal should be also, but we all know that logic doesn't have much to do with taxes.

For 2009, the preparer only split the W2 income between the spouses. If I follow that pattern it won't make much difference in the returns since their W2 income was within $200 of each other.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us