Submitted by Existing_Ad_5591 t3_11efhvg in personalfinance
I was married in June of 2022. Am I qualified to file jointly with my wife or do I have I have to file alone since I was married after the start of the 2022 tax year?
Comments
HauntingHarmonie t1_jaennc2 wrote
Important caveat: if you are on income-based student loan repayments and your income will be higher combined, you might consider filing separately.
iEngineer9 t1_jaesvom wrote
This comes as a surprise to a lot. In some cases, such as the Revised Pay As You Earn (REPAYE) payment plan, it doesn’t matter if you file separately or jointly, they still add up all household income.
magikatdazoo t1_jaezrui wrote
Student Loan Repayment Plans definitely overdue for reform. Not the topic of this thread, just that folks need to read all the microscopic print carefully with them.
HauntingHarmonie t1_jaet1w4 wrote
Yup... my husband had to sign my forms and he's not even from the US!
TenarAK t1_jaewrhq wrote
Same. I am required to go through and sign my husband’s forms and he has to report our household income. The real PIA is that they don’t take into account the child and her childcare.
HauntingHarmonie t1_jaexsax wrote
Same! Or HCOL
magikatdazoo t1_jaf04uy wrote
Right it may make sense for OP to file "married filing separately," but the option is that or "married filing jointly." Do the math, just don't try and do "Single" unless want Uncle Sammy pounding your ass with his IRS boots
hndjbsfrjesus t1_jae9my8 wrote
We calculate it both ways, i.e. Married Filing Separately and Married Filing Jointly, and pick which is more favorable. After a few times through this, we determined the headache wasn't worth the slight difference in taxes and just file jointly.
magikatdazoo t1_jaezkqx wrote
This is the answer. Stop scrolling. OP CAN'T file as single, not eligible.
TeignmouthElectron t1_jae3olb wrote
That’s not true. Married filing separately you get the exact same tax credits just divided by two. Things like tax credits for dependents, you need to choose on who’s tax return it makes the most sense to put it on.
123456478965413846 t1_jaebc2x wrote
There are differences in certain situations.
If you file separately there are a few credits you cannot claim like the earned income tax credit, child and dependent care credit, and some education related credits. So if you would get those credits filing jointly is generally better than separately.
Also to claim medical expenses you need them to be more than 7.5% of agi. If one person has a bunch of medical expenses it might be more than 7.5% of their agi but not of the joint AGI. In that situation jointly might be better.
There are a ton of edge cases where one or the other is better. In most cases it should be the same or very close to the same, but sometimes there are large differences.
peteb82 t1_jaebn8o wrote
MFS will phase you out of several things completely. Notably Roth IRA income limits are very harsh for MFS. It is almost never a better option.
TeignmouthElectron t1_jaemqxr wrote
That one is particularly fucked up! What else does it phase you out of? I’ve reviewed for my personal case and found absolutely no difference. We both have small businesses as LLCs so it is cleaner to file separately, and had no loss in tax implications.
buildyourown t1_jae9hd8 wrote
Your tax brackets are wildly different if you file jointly.
[deleted] t1_jaec0kq wrote
[removed]
zffch t1_jadqq8j wrote
You have to file as married if you're married on the last day of the year. You can't file as single, you can file as married filing separately but it probably leads to more tax.
themagicalpanda t1_jado9yn wrote
file MFJ since the event occurred during the 2022 tax year
ct-yankee t1_jae7051 wrote
Married. Filing Jointly will likely result in the best outcome.
There are exceptions to this, but they are unusual. (Google: Why file married separately and you'll get loads of sources citing when)
YardSardonyx t1_jaeun68 wrote
Also married last year, yes you are qualified to file jointly, as it goes by your status as of December 31st 2022. You were married by then so your marital status should be listed as married whether you file jointly or not. You can file jointly or separately but your marital status must be listed as ‘married’.
Possum4727 t1_jaf06hy wrote
Do you have to change anything on your W2 form if you want to file jointly? We’ve been filing as “married, filing separately” for the past 2 years, but would like to file jointly if we can? Or do we need to wait til next year and update our W2 now?
P4ULUS t1_jaebski wrote
It’s illegal to file single if you were married during any part of the year
MissLesGirl t1_jadp9t4 wrote
Do both and file the one that saves you the most.
TheSteelPhantom t1_jae6hpp wrote
No. OP only has 2 legal options:
-
Married Filing Jointly
-
Married Filing Separately
They cannot... I repeat cannot... file as Single.
MissLesGirl t1_jae8kns wrote
I was thinking OP meant should they file married joint or married separate. Not single.
I was suggesting to do both married joint and separate and choose the one that saves them the most.
I guess I misread the question.
SpiritualCatch6757 t1_jadobjc wrote
Your filing status is as of Dec 31, 2022. Thus you either filing married filing jointly or married filing separately. In most cases but not all jointly results in lower taxes.