QUESTION DETAIL
Related User
Votes
Can I file a separate return even though I am married? In what situations do you recommend to file separately?
ANSWER
Expert Michael Lim's Answer:
Yes, if you are married, you may elect to chose the Married Filing Separately status. However, it is usually the least beneficial status to choose.
One of the many downsides is that you cannot elect any of the following tax benefits:
- The tuition and fees deduction.
- Student loan interest deduction.
- Earned income tax credit.
- Child tax credit.
- Tax free exclusion of social security benefits.
Usually, the only reason it makes sense to file separately is if you suspect your spouse may be avoiding taxes illegally, or has an unpaid tax liability from prior years (before you were married). By filing separately, you would avoid the tax liability on a joint return, plus any penalties and interest on that liability.
