Posted: 1/5/2011 3:28:06 PM EDT
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can a couple file jointly if they are residents of different states? can you claim residency in a state where you rent a home as opposed to a state where you own a home? |
seriously ?? 1.5 hours and I cant get an answer to a simple tax question on ARF. This has got to be a record. I will concede the point that tax accountants probably make up only a small percentage of our membership but I thought for sure this was a softball for someone. Hmmm, maybe the accountants dont hang out in GD.  who'd a thunk it. |
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I am no tax expert, but my wife is an accountant, and she says filing joint on federal, separate on state is the way to go. She also said unless....
The Unless means talk to a certified tax or accounting professional in your area, because no two situations are alike, and bad advice can cost you thousands, she would only charge you hundreds. |
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Quoted:
can a couple file jointly if they are residents of different states? can you claim residency in a state where you rent a home as opposed to a state where you own a home? If you are legally married, you can file a joint return regardless of where you both reside (this applies for both federal and state returns). Your state returns, if they have an income tax, will be more complicated since tax at the state level is paid where earned. As a result, you will have to pay tax on the income derived on earnings within each state (file multiple returns). Depending on which states they are their may be some other negative tax consequences on income not earned within that state. This is the basic information but could vary depending on the details of your particular situation. For reference, I have been a practicing CPA for almost 20 years. |
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Quoted:
I am no tax expert, but my wife is an accountant, and she says filing joint on federal, separate on state is the way to go. She also said unless.... The Unless means talk to a certified tax or accounting professional in your area, because no two situations are alike, and bad advice can cost you thousands, she would only charge you hundreds. Many states require you to file the same way you have filed on your federal return. There are exceptions. You should also note that Married Filing Joint has the best effective tax rates while Married Filing Separate almost always results in additional unnecessary tax to be paid. If you are legally married, you cannot file as Single. It has to be either MFJ or MFS. |