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re: Newly married filling taxes next year
Posted on 9/19/17 at 4:45 pm to jturn17
Posted on 9/19/17 at 4:45 pm to jturn17
quote:
edit: Unless you live in a community property state, like LA, then it's half you and your spouse's adjusted gross income.
IBR will only calculate using your income if you file separate federal returns, regardless of the state you live in.
And correct, this is useful and could offset the paltry $2,500 student interest deduction. And as mentioned, if you wouldn't qualify for any of these deductions or credits anyways filing jointly, it starts to make a lot more sense to file separately.
This post was edited on 9/19/17 at 4:48 pm
1
Posted on 9/20/17 at 8:15 am to Teddy Ruxpin
I have to start looking at our upcoming tax issues after marriage. She is a Vet with very sizeable loans so we will more than likely be filing separately for the next 20 years to keep my income out of the equation for her IBR loans.
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