See, I just bought a house with my husband on 01 of '06 (this year) and he cheated on me so we are getting a divorce, selling the house and everything. We both live in our separate homes now. Should I do the taxes with him next year?, he says we should file jointly, I dont think we should. Are there any benefits to doing it jointly?
2006-10-25 09:59:02 · 2 answers · asked by ditaprico 1 in Business & Finance ➔ Personal Finance
Since the divorce is not final, and probably won't be in '06, (even if it is you have been married for a majority of the year) you will have to file as you have in the past (Jointly, or Married filing separately).
You should come to an understanding (in writing) with your spouse, that the refund check, if any, will be mailed to your address, even though it will have both names on it. Your ex could come to your place, or a neutral location agreeable to both to sign it and together go to the bank to cash it.
2006-10-25 10:43:36 · answer #1 · answered by PALADIN 4 · 0⤊ 0⤋
Basically becuase you were in the house less than a year you'll pay capital gains on any net profit. If you file together (but DO clalim seperation) than you can use the 3 kids to offset the tax liability of the house. I think, beucase both your names are on it, you both have to claim the house anyways.
2006-10-25 17:12:15 · answer #2 · answered by Anonymous · 0⤊ 0⤋