Sunday, January 17, 2010

Who claims the child when filing married filing separately?

I am married, but was looking at filing MFS. We have 1 child, but whose return does the child go on? We make too much money for EIC so it seems advantageous to file MFS.Who claims the child when filing married filing separately?
It will NOT be advantageous to file mfs. Be sure you aren't using the ';single'; tables - you can't do that, you have to use the mfs rates. It is only under very rare circumstances, like one of you has very high medical bills or unreimbursed employee business expenses, that it even MIGHT be better to file as mfs rather than joint. If your incomes are pretty close together, and you aren't eligible for any of the credits that you can't take under mfs (it's not just EIC) then it might only cost you a few extra dollars.





But if you file as mfs, either of you can claim the child but not both - if you can't agree, it goes to the person with the higher AGI.

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