Discussion:Itemized deductions for divorced
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Discussion Forum Index --> Tax Questions --> Itemized deductions for divorced
| 11 April 2006 | |
| couple got divorced 11/25/05. can the 2005 itemized deductions incurred BEFORE the divorce be split up between the two or are they lost? (I am thinking of using their respective W-2 earnings as a basis for allocating the deductions). Thanks | |
| 11 April 2006 | |
| Of course. Make sure they agree unless you're doing both returns.. | |
| 11 April 2006 | |
| Dbfs:
You should not split them up by W-2 earnings. Split them up by who was responsible. If the house was in both names each receive 1/2. If one gave $500 to charity it would belong to the one that gave the gift. Dusty | |
| 11 April 2006 | |
| I agree with Dusty. I never splitted the itemized deductions on the basis of w2 earnings. Check who made the pmt or divide half and half. | |
| 11 April 2006 | |
| THE REASON I SAID W-2 WAS BECAUSE THEY WERE MARRIED FOR MOST OF THE YEAR; IF ONE PERSON EARNED 70% OF INCOME, IT'S SAFE TO SAY THAT PERSON REALISTICALLY PAID 70% OF HOUSEHOLD EXPENSES AS LONG AS THEY USE A JOINT CHECKING ACCOUNT. THANKS | |
| 11 April 2006 | |
| THINK THIS WAY, EVEN IF SHE WAS NOT EARNING ANYTHING SHE WOULD HAVE GOT HALF OF THE FED OR STATE REFUND. AND WIFE IS NEVER TREATED AS A DEPENDENT EVEN IF SHE IS NOT EARNING. | |
| 11 April 2006 | |
| Most couples don't get a divorce on the same day they separate. So there is usually a period of time during which they have already begun to separate their finances. So the deduction, as per Dusty and AJS should be determined based on what the source of the payment was. Also, you may get different results in a community property state vs a non-community property state. | |
| 12 April 2006 | |
| Husband/wife while married can make gifts to each other. What is wrong with husband (whose ss # is on the 1098) taking position he paid the interest and taxes and thereby deducting the interest/re tax, and the wife claiming std ded? After all, if not married at end of year he files "single" and she (assuming kids live with her) gets H of H. | |
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