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Itemized Deductions Schedule-A


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Old 04-10-2013, 01:05 PM
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dividing itemized deductions

I am a HAPPILY married man who has discovered, I think, that it would be best for us to file separately. However, I can't find an answer ANYWHERE as to how we would divide up our itemized deductions. All answers to this question have to do with couples who are separated or divorced. All our bills are paid from a joint checking account and both our names are on all titles for our "stuff". Seems to me we should just divide the itemized deductions in half, but not sure if that is correct.



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Old 04-10-2013, 11:39 PM
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“All our bills are paid from a joint checking account and both our names are on all titles for our "stuff". Seems to me we should just divide the itemized deductions in half, but not sure if that is correct”=================>It depends; MFS taxpayers must both claim the standard deduction or must both itemize their deductions. In other words, one MFS taxpayer cannot claim the standard deduction if the other spouse is itemizing. There is one clear benefit of filing separately. By filing a separate return, the taxpayer is solely responsible for the accuracy and payment of tax related to that separate return. By contrast, on a jointly filed return, both spouses are jointly responsible for the accuracy of the return and the payment of tax. A spouse who is unwilling to assume legal and financial responsibility for the other spouse's tax obligations should strongly consider filing separately.



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Old 04-11-2013, 02:05 PM
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thanks

We are itemizing our deductions. So, back to my question: Do we just take the itemized deduction total and divide it half?

Thanks.



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Old 04-11-2013, 02:20 PM
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As said previously, If you are married filing separately and one spouse itemizes deductions, the other spouse must also itemize; I mean the other spouse can NEVER take his/her std deduction. Generally, each spouse could claim the itemized deductions he or she actually paid. And expenses paid from a joint account would be deductible in equal parts by each former spouse. So if One Itemizes and takes for example $16K and there is only $2.5K for the other one he or she is stuck with the $2.5K and cannot take the standard deduction for non itemizers. SO, Remember that if one spouse itemizes, the other must also whether they get any benefit from it or not.



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Old 04-11-2013, 03:54 PM
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thanks

We've been happily married for 33 years and plan to remain happily married for another ?? years. We are not separated. We've paid all expenses for 33 years from a joint checking account. We have approximately $19,000 worth of itemized deductions this year and both plan to itemize. So, when we file MFS, I will claim $9500 of itemized deductions and my wife will claim $9500 of itemized deductions. Is that the correct way to do it?

Thanks again



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Old 04-11-2013, 04:06 PM
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So, when we file MFS, I will claim $9500 of itemized deductions and my wife will claim $9500 of itemized deductions. Is that the correct way to do it?”==Correct; each of you could claim the itemized deductions he or she actually paid. Attach Sch A and put in your $9.5K of itemized deductions on line 40 on 1040.



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