your basic idea is correct. for tax purposes, it is as though the divorce was complete because you were separated and maintained sep. households with 1 kid each for the last 6 months.so. Head of Household is correct for both. You each report your own income/deductions only and there is no need for you to both itemize because your not filing as "married/sep." The CA property laws don't affect this, but they'll have a big effect on your div. settlement.
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