[[This is the first year my wife and I will be filling under a married status. We each I have seperate itemized deductions, including mortgage interest, charitable deductions etc. Married filling seperately will be our status. My question is can we both claim itemize deductions(which do not over-lap)on our sperate returns? Or do they have to be claimed on one return?]]If you end up filing married/separate (I hope to GOD that you are familar with the rules...it's not as simple as you might think...check out my posts on married/separate filing in the Taxes fAQ area), if one of you itemizes your deuctions, then the OTHER one must also itemize. So if your both really have separate itemized deductions (and not necessarily deductions generated from community income), then you'll want to itemize deductions on each return.TMF TaxesRoyWant to learn more about taxes and investing? Then we have a deal for you!! The Motley Fool Investment Tax Guide is now available through Fool Mart. Be the first one on your block to own this masterpiece. It'll help you with your 1998 taxes, and it's never to early to start planning for your 1999 taxes. So just click on this link (http://www.foolmart.com/market/product.asp?pfid=MF+013+I) to read more about this amazing collection of tax information. (Apologies for the shameless plug…but it is a pretty good book…if I do say so myself). In addition, if you would like to visit the Taxes FAQ (Frequently Asked Questions) area, click on http://www.fool.com/school/taxes/taxes.htm and you'll be right at the home page. Check it out. Finally, if you need to get to the IRS web site, click on http://www.irs.ustreas.gov to go directly there.
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