Tax Returns?

Can my wife and I file taxes individually vs married jointly if we have a family trust?

6 Answers

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  • 1 month ago

    You can file separately or jointly.  It's your choice.  If you file jointly you can't change to separate after April 15 but if you file separately you can.

  • 1 month ago

    You can ALWAYS elect to file as "Married Filing Separately".  This is usually the WORST way to file.

  • Amy
    Lv 7
    1 month ago

    Married couples always have the option to file separately. However, it usually results in a higher tax bill.

  • 1 month ago

    You can file individually as married filing separately.  You cannot file as single or as head of household.

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  • Eva
    Lv 5
    1 month ago

    You can, but be sure there is an adequate reason to do so.  It usually costs more in taxes to file separately because there are some credits that can't be claimed on a MFS return.  Also if one itemizes deductions, the other MUST even if the total of their deductions is less than the standard.  In other words, both must itemize or both must take the standard deduction.  If it's an issue with a debt of one spouse, look into filing an injured spouse form with the joint return instead of filing separately.

  • 1 month ago

    You can file married filing separately. The family trust does not effect that being an option, although it may complicate the returns.

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