Taxes got a whole lot more complicated this year. Half of the year, I lived with my parents as their daughter. The other half of the year, I lived with my husband as his wife. So am I a dependent of my parents? Can I still file jointly with my husband and receive a return or do I have to file married but filing separately?
After spending about two hours of a previously beautiful Sunday morning working on taxes and frustrating my poor husband (because I was trying to do them without him, which didn't work by the way), I began to look for some answers. We were using a tax program which had no problem with the fact that I marked myself as being claimed as a dependent while filing married filing jointly, however a tax agent I talked to DID have a problem and said that I would have to file married filing separately.
Here are a few of the things I found out which, I hope, will benefit some of you poor souls who are also wading in W2s and tuition statements (isn't it disgusting how little we make and how much we owe?).
1) Your parents may benefit by claiming you as a dependent. Benefit A LOT. It might help pay off some of those wedding bills, so be nice and let them claim you.
2) You can still file married filing jointly even if you are claimed as a dependent. According to the IRS there is a handy-dandy test called the "joint return test" which says that you are claimable as a dependent but are able to file married filing jointly ONLY TO CLAIM A REFUND.
3) It may be to your advantage to file jointly with your spouse because you may have to pay otherwise. Make sure you do the math for both scenarios (married filing separately or married filing jointly) before filing so that you know which option is better ($$$) for you.
4) Don't worry, this is the last year it will be this complicated! That is, until you have kids and they get married.....
5) Here are some handy-dandy websites that may aid you in your tax activities:
"5 End of the Year Tax Tips for Newly Married Couples"
"IRS offering tax tips for the newly married"
And last but not least:
No comments:
Post a Comment