Sentences with phrase «if filing jointly»

Take Advantage of the Retirement Savings Contribution Credit With the Retirement Savings Contribution Credit (or «Saver's Credit»), you may be able to claim a tax credit of up to $ 1,000 (up to $ 2,000 if filing jointly) if you make eligible contributions to an employer - sponsored retirement plan or an IRA.

If the separation has been largely litigious and contentious, the parties may not be able to work together in preparing and signing the tax return, even if filing jointly results in the lowest aggregate tax liability.

This credit is worth as much as 50 percent of up to $ 2,000 contributed to an IRA, 401 (k) or other retirement plan, for a maximum credit amount of $ 1,000 ($ 2,000 if filing jointly).

If you're looking to sell, you can avoid taxes on up to $ 500,000 in gains if filing jointly.

If you make eligible contributions to a qualified IRA, 401 (k) and certain other retirement plans, you may be able to take a credit of up to $ 1,000 or up to $ 2,000 if filing jointly.

Your adjusted gross income is less than $ 80,000, but phases out starting at $ 65,000 (or $ 160,000 if filing jointly, but phases out starting at $ 130,000)

If your income is more than $ 34,000 (or $ 44,000 if filing jointly), then you may have to pay taxes on up to 85 percent of your benefits.

If your combined income (Social Security calculates «combined income» by adding one - half of your Social Security benefits to your other income) is between $ 25,000 and $ 34,000 (or $ 32,000 and $ 44,000, if filing jointly), you may have to pay taxes on 50 percent of your benefits.

You will not be eligible for the Earned Income Credit if you or your spouse (if filing jointly) was a nonresident alien at any time during the tax year.

You (or your spouse if filing jointly) do not qualify to be claimed as a dependent on another person's tax return.

You (or your spouse, if filing jointly) received health saving account (HSA), Archer MSA, or Medicare Advantage MSA distributions.

If your MAGI is $ 75,000 or more ($ 150,000 or more if filing jointly), you can not claim this education tax deduction.

The maximum contribution used to calculate the amount of the Saver's Credit is $ 2,000 per person (so $ 4,000 if filing jointly).

Was under age 19 at the end of 2017 and younger than you (or your spouse, if filing jointly) or Under age 24 at the end of 2017, a student (defined later), and younger than you (or your spouse, if filing jointly) or Any age and permanently and totally disabled (defined later)

According to IRS topic 701, homeowners may also qualify to exclude up to $ 250,000 in capital gains from a home sale ($ 500,000 if filing jointly) from being treated as ordinary taxable income:

In either case, the child must also be younger than you (or your spouse if filing jointly).

Your refund will be applied equally among accounts owned by you and, if filing jointly, your spouse.

Roth contributions are allowed after the age of 70 1/2 if you, or your spouse if filing jointly, have earned income.

Your spouse and you (if filing jointly) have filed all your tax returns from the last five years.

The income from an IRA might just put you over the limit (currently $ 32,000 if filing jointly, or $ 25,000 if filing as an individual) and therefore cause your social security to be taxable.

If filing jointly which we intend to, then there's a $ 500k exclusion available if both meet the rules test which we do not meet as a couple due to her only living there 3 months.

If it's between $ 95,001 and $ 110,000 ($ 190,001 and $ 220,000, if filing jointly), your contribution will be reduced.

The child must be younger than the taxpayer (or spouse if filing jointly) and, under age 19 or a full - time student under age 24 or, any age if totally and permanently disabled.

In 2018, the maximum credit is $ 2,000, or $ 4,000 if filing jointly.

You can contribute $ 2,000 each year if your modified adjusted gross income is $ 95,000 or less ($ 190,000 or less if filing jointly).

How it works: Arizona taxpayers can claim a credit against state income taxes for contributions of up to $ 500 ($ 625 if filing jointly) to eligible «School Tuition Organizations» (STO).

An individual who is physically or mentally incapable of self - care, lived with you for more than half of the year, and either: (i) is your dependent; or (ii) could have been your dependent except that he or she has gross income that equals or exceeds the exemption amount, or files a joint return, or you (or your spouse, if filing jointly) could have been claimed as a dependent on another taxpayer's 2015 return.»

You must have secured a caregiver who you paid so that you or your husband or wife (if filing jointly) could go to work or hunt for a job.

You or your spouse, if filing jointly, generally must have earned income such as wages, tips, or commissions to qualify to contribute to an IRA.

If your taxable income (after all those business expenses that you get to keep) is less than $ 157,500, or $ 315,000 if you file jointly, then it doesn't matter whether your pass - through business is in the special category or not.

If you filed jointly you should only check using the primary filer SSN.

However, if you file jointly, the combined income of $ 100,000 moves into a lower tax bracket.

For each year you contribute to a Roth IRA, you (or your spouse, if you file jointly) must have compensation or alimony income.

If you file jointly, be aware that you can still only deduct a total of $ 2,500, not $ 2,500 per spouse.

If you file jointly with your spouse and you make less than $ 99,000 a year, you can contribute the full amount to your 401k (currently up to $ 18,000 a year) and the full contribution to your IRA account (currently $ 5,500 a year).

If you file jointly, each spouse can receive the $ 1,000 Saver's Credit, if eligible.

If you filed jointly before the divorce decree was final, you can complete the plan if you and your ex-spouse can agree on how to distribute the payments.

If you filed jointly with your spouse, and the IRS took your full refund for your spouse's debts, you can get your portion of the refund.

For each year you contribute to a regular IRA or a Roth IRA, you (or your spouse, if you file jointly) must have qualifying income.

But if you file jointly with a spouse who took retirement plan distributions, you may also have to reduce your contributions by those distributions when figuring the credit.

This number is derived by taking all your income other than social security benefits, including tax - exempt income items, and adding that to your spouse's income if you file jointly.

Your exemptions also change when you get married, if you file jointly.

If you have a federal student loan and are using an Income Based Repayment (IBR) Plan, you may lose your IBR payment status if you file jointly.

You can deduct student loan interest on loans you took out to pay «qualified higher education expenses» (like tuition, fees, room and board, books, and supplies) for yourself, for your spouse (if you file jointly), and for your dependents.

If they file jointly, they may have to decide how to allocate the tax liability or refund.

After you file your petition, you must provide your spouse with a copy of the divorce paperwork, usually by process server; if you filed jointly, you can skip this step.

Not exact matches

If you're married and filing jointly, contributions are reduced starting at a combined income of $ 186,000 and phased out completely at $ 199,000.

If you make more than $ 157,500 (filing singly) or $ 315,000 (filing jointly) and less than $ 207,500 (singly) or $ 415,000 (jointly), the deduction phases out and depends on exactly where your income falls.

In general, to qualify for the full deduction, your taxable income must be below $ 157,500 if you're single or $ 315,000 if you're married and file jointly.

The loan debt of a married borrower's spouse is only considered if taxes are filed jointly.