Sentences with phrase «spouse itemize deductions»

You can't, for example, game the system by having one spouse itemize deductions while the other claims the standard deduction.

In general, you can not claim the standard deduction if your spouse itemizes deductions, and vice versa.

If your spouse itemizes deductions, you must also itemize, even if the standard deduction would be more advantageous.

If you're married, filing a separate return, and your spouse itemizes their deductions, you can not take the standard deduction.

Find out if you can claim the standard deduction if your spouse itemizes their deduction but you are filing separately with help from the tax experts

For example, someone who's married filing separately is ineligible if their spouse itemizes deductions.

If you are married but file taxes separately and your spouse itemizes deductions on his or her return, then you can't claim the standard deduction.

For example, someone who's married filing separately is ineligible if their spouse itemizes deductions.

Not exact matches

If one spouse has a lower income and substantial eligible expenses, such as medical bills, or a hefty percentage of itemized deductions like depreciation, it might be advantageous to file separately.

For example, you can't have one spouse itemize and claim all the deductions while the other claims the standard deduction.

Whether you take the standard deduction or itemize, you can deduct up to $ 4,000 in qualifying higher education tuition and fees you paid for yourself, your spouse or a dependent for tax year 2017.

When filing separately, both spouses must either: each claim itemized deductions or each take the standard deduction.

Both spouses must either itemize or use the standard deduction.

For example, if you're itemizing healthcare deductions, the threshold for any costs that were not reimbursed during the tax year (and that were paid for yourself, your spouse and dependents) has to exceed 10 percent of your adjusted gross income or they can not be deducted.

One of those quirks is a requirement to allocate itemized deductions between spouses based on Iowa net income.

One of the features of Head of Household is that it allows a standard deduction even if you are technically married to a spouse that has itemized.

If you're the spouse who is paying alimony, you can take a tax deduction for the payments, even if you don't itemize your deductions.

The third criteria is if gross income is at least $ 5 and a spouse files separately and chooses to itemize deductions.

** You must file a return if your spouse files a separate return and itemizes deductions and your total income is $ 5 or more.

This is a different concept from filing separately on a federal tax return, where itemized deductions are either split 50/50 or allocated to the spouse who actually made the payment.

Distributions for Qualified Expenses When distributions from an HSA are used to pay for qualified medical expenses of the account owner, his or her spouse, or dependents, the distributions are excluded from gross income — even if the individual is not currently eligible to make HSA contributions and / or does not itemize his deductions on his federal income taxes.

For example, if the federal adjusted gross income (FAGI) attributable to the reporting spouse represents 25 % of the couple's joint FAGI, then the reporting spouse may claim 25 % of the total itemized deductions from Schedule A.

Premiums paid by a self - employed person for coverage for yourself, your spouse or dependents can be deductible, even if you don't itemize deductions.

In the case of a married couple filing separate returns, a taxpayer may not deduct the standard deduction amount if the taxpayer's spouse claims itemized deductions for State purposes.

This is usually the case when one spouse has a low adjusted gross income but high itemized deductions, especially employee expenses and medical payment deductions.

For instance, if one spouse remains in the former marital residence and has made the associated real estate tax and mortgage payments, they will be able to itemize those deductions.

If itemizing deductions, your spouse can deduct the real estate taxes and, if the home is a qualified home, also include the interest on the mortgage in figuring deductible interest.

Payments to an ex-spouse If you're the spouse who is paying alimony, you can take a tax deduction for the payments, even if you don't itemize your deductions.