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#1
12-15-2008, 12:45 PM
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 Re: Does it matter if it is my or spouse's income "Arthur Kamlet" <kamlet[at]panix.com> wrote - quote - > jack <jack[at]yahoo.org> wrote: > > TaxCut asks whose interest it is, but doesn't ask about capital gains. > > > On a joint return does it matter whose interest it is? Is interest > > somehow > > different in this regard than capital gains? > Only if you think you might split this happily married couple > filing MFJ into two individuals filing MFS, something I often do > every tax season. It might also matter if you are elderly and are taking some "retirement income exclusion" that your state might offer. In some cases the state allows the income exclusion, in whole or in part, to be set against interest, dividends and the like, in addition to retirement and other income. -- Paul A. Thomas, CPA Watkinsville, Georgia -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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12-15-2008, 01:06 AM
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| Re: Does it matter if it is my or spouse's income In article <gi48eq$5v3$1[at]news.motzarella.org> , jack <jack[at]yahoo.org> wrote: - quote - > TaxCut asks whose interest it is, but doesn't ask about capital gains. > On a joint return does it matter whose interest it is? Is interest somehow > different in this regard than capital gains? Only if you think you might split this happily married couple filing MFJ into two individuals filing MFS, something I often do every tax season. -- ArtKamlet at a o l dot c o m Columbus OH K2PZH -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
12-14-2008, 11:51 PM
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| Does it matter if it is my or spouse's income TaxCut asks whose interest it is, but doesn't ask about capital gains. On a joint return does it matter whose interest it is? Is interest somehow different in this regard than capital gains? -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| income, matter, spouse |
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