Married Filing...


S

SRO

Here's my quesitons..

My salary is say 14 times my spouses.

Here's my question.

If we file jointly, our combined medical bills
(prescriptions / doctors bills etc) do not hit the minimum
celing for deductions.

If we file seperately, my spouses medical expenses exceed
her gross income.

Now consiidering we can't file long forms, what are the
effects if my spouse claims all the medical bills, and I
don't claim anything. Is there any benefit to this
approach?

Thanks in advance.
 
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P

Phil Marti

SRO said:
Here's my quesitons..

My salary is say 14 times my spouses.

Here's my question.

If we file jointly, our combined medical bills
(prescriptions / doctors bills etc) do not hit the minimum
celing for deductions.

If we file seperately, my spouses medical expenses exceed
her gross income.

Now consiidering we can't file long forms, what are the
effects if my spouse claims all the medical bills, and I
don't claim anything. Is there any benefit to this
approach?
The only way to tell is to compute both ways, including the
state. Remember that if you file separately you must both
use the same deduction method, standard or itemized.
 
M

mytax

When filing seperately, if one spouse itemizes the
deductions, the other spouse *must* itemize. I'll bet that
it still would be beneficial for you to file jointly. Only
in Ohio (in my practice) with both spouses making a lot of
money, is it beneficial to file seperately.

Missy Doyle
 
H

Harlan Lunsford

SRO said:
Here's my quesitons..

My salary is say 14 times my spouses.

Here's my question.

If we file jointly, our combined medical bills
(prescriptions / doctors bills etc) do not hit the minimum
celing for deductions.

If we file seperately, my spouses medical expenses exceed
her gross income.

Now consiidering we can't file long forms, what are the
effects if my spouse claims all the medical bills, and I
don't claim anything. Is there any benefit to this
approach?
You just have to do the math and see. This is an example
to be sure where it could make a difference.

However if your income is 14 x her's, I seriously doubt
that any increased tax savings due to her medical deductions
would offset the increased tax bite due to your higher
marginal tax rate.

ChEAr$,
Harlan Lunsford, EA n LA
Sat 12 Mar 2005
 
A

Arthur L. Rubin

SRO said:
Here's my quesitons..

My salary is say 14 times my spouses.

Here's my question.

If we file jointly, our combined medical bills
(prescriptions / doctors bills etc) do not hit the minimum
celing for deductions.

If we file seperately, my spouses medical expenses exceed
her gross income.

Now consiidering we can't file long forms, what are the
effects if my spouse claims all the medical bills, and I
don't claim anything. Is there any benefit to this
approach?
What do you mean, "you can't file long forms"?

In any case, if you file MFS (Married Filing Separate), and
you're not in a community property state, and your wife
actually paid her medical expenses out of separate funds,
then she would probably have no tax due -- but your return,
on which you cannot take the standard deduction (or, to be
precise, your standard deduction is $0 if your wife
itemizes), would probably be higher than your joint return
would be.

I'm saying it's likely there is no beenfit.
 
A

Arthur Kamlet

SRO said:
Here's my quesitons..

My salary is say 14 times my spouses.

Here's my question.

If we file jointly, our combined medical bills
(prescriptions / doctors bills etc) do not hit the minimum
celing for deductions.

If we file seperately, my spouses medical expenses exceed
her gross income.

Now consiidering we can't file long forms, what are the
effects if my spouse claims all the medical bills, and I
don't claim anything. Is there any benefit to this
approach?
None that I can see, unless making a higher than necessary
tax payment is one of your life's goals.

__
Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH
 
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B

Bill

SRO said:
Here's my quesitons..

My salary is say 14 times my spouses.

Here's my question.

If we file jointly, our combined medical bills
(prescriptions / doctors bills etc) do not hit the minimum
celing for deductions.

If we file seperately, my spouses medical expenses exceed
her gross income.

Now consiidering we can't file long forms, what are the
effects if my spouse claims all the medical bills, and I
don't claim anything. Is there any benefit to this
approach?
Probably not. Work the returns both ways and see what the
total tax liability is each way. Note that if one spouse
itemizes on a married-separate return, the other spouse must
itemize also.
 

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