The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Married: File Joint or Separate||Date: 3/27/2014 10:41 PM|
|Author: progmtl||Number: 120611 of 121572|
Sorry to reply to my own post!
Can I divide them as I choose, or do they have to be split 50/50 (or by some other scheme)?
Same question about how to allocate the personal exemptions and tax withheld. I presume I will make tax withheld match the W2 amounts the best I can (it's off by a couple hundred for some reason).
Do personal exemptions need to be divided or can I apply them all to my wife's separate return?
By dividing all joint income/deductions in half I seem to be able to still achieve a total refund of $4k-$5k as opposed to the joint return where we would owe $1500.
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