Is form 8958 mandatory?
The laws of your state govern whether you have community or separate property and income. You must attach Form 8958 to your tax form showing how you figured the amount you’re reporting on your return.
What do I include in form 8958?
Use Form 8958 to determine the allocation of tax amounts between married filing separate spouses or registered domestic partners (RDPs) with community property rights. If you need more room, attach a statement listing the source of the item and the total plus the allocated amounts.
Does form 8958 need tax?
Information on Form 8958 Form 8958 essentially reconciles the difference between what employers (and other income sources) have reported to the IRS and what the spouses will be reporting on their federal tax returns. Both spouses must include a copy of the form with their tax return.
Can you e file form 8958?
You can use the IRS interactive tool if you are not sure which filing status to choose. If you are required to file as married, the other spouse’s information is required to electronically file the return. To complete the form, please go to: Federal Section.
Do I need my spouse’s information to file taxes separately?
Yes, at the very least you will have to enter your spouse’s name and Social Security number. If you live in a community property state it gets more complicated. Why are you filing separately? Married Filing Jointly is usually better, even if one spouse had little or no income.
Where can I get form 8958?
To access Form 8958, from the Main Menu of the Tax Return (Form 1040) select: Miscellaneous Forms. MFS Allocation for Community Property States (8958) The taxpayer’s information from the tax return will pull to the taxpayer’s column of the form.
What are the rules for married filing separately?
Eligibility requirements for married filing separately If you’re considered married on Dec. 31 of the tax year, then you may choose the married filing separately status for that entire tax year. If two spouses can’t agree to file a joint return, then they’ll generally have to use the married filing separately status.
How does IRS know if you are divorced?
Hidden assets, undisclosed income and other facts will always become exposed in a divorce proceeding because of the required “forensic audit.” These facts are collected and reported by forensic accountants to property determine the value of all the income and assets for “equitable distribution.” But, the Judge is …
How is income separated when married filing separately?
Under the married filing separately status, each spouse files their own tax return instead of one return jointly. Instead of combining income, each person separately reports income and deductions.
Am I responsible for my spouse’s tax debt if we file separately?
Each spouse is liable for their own separate tax debts, if any. However, you will not receive any of the tax breaks that you are eligible for when filing jointly, so you may not receive as large of a tax return, or you may end up paying more in taxes, since you are taxed individually.
What are the benefits of filing married filing separately?
Advantages of Filing Separate Returns By using the Married Filing Separately filing status, you will keep your own tax liability separate from your spouse’s tax liability. When you file a joint return, you will each be responsible for your combined tax bill (if either of you owes taxes).
Can I claim married if I got divorced?
Filing status Couples who are splitting up but not yet divorced before the end of the year have the option of filing a joint return. The alternative is to file as married filing separately. It’s the year when your divorce decree becomes final that you lose the option to file as married joint or married separate.