My wife and I divorced last year it was final on July 31st how should we file our taxes ?

Answer 1

Since you divorced before the year ended, you would file as Single. If you remarried before the end of the year, you could file as Married Filing Jointly or Married Filing Separately with your new spouse.

So, assuming you didn't remarry, you may be able to file as Head of Household instead of Single. You can file as Head of Household if you lived with a relative that you claim as your dependent (don't include your ex.) for over 1/2 of the year and paid over 1/2 of the household expenses. For example, if you have children and you are the custodial parent, you could use the children to allow you to file as HoH. If you lived with your brother, aunt, grandchild, parent, or any other non-distant relative (cousins don't count) for over 1/2 the year and paid over 1/2 of the household expenses AND claim them as your dependent, you could use them to allow you to claim HoH (you can't do this when you are married). One more thing, if your parent does NOT live with you, you can still use them to allow you to claim HoH if you claim them as a dependent and pay over 1/2 the costs of their household for the entire year (not just 1/2 the year).

When you do file, since you are no longer married to your ex., you keep your income off of her tax return and her income off of yours. Everything is separate now.

However, if you live in a COMMUNITY PROPERTY state, you may have to split the income during the months you were married UNLESS you lived and kept your finances separately during the time you were married. For example, if you lived together during the first 3 months and you made $10,000 during those months and $40,000 for the rest of the year and she made $5,000 during the first three months and $20,000 for the rest of the year, you would claim $40,000 + 1/2 x ($10,000 + $5,000) = $47,500. She would claim $20,000 + 1/2 x ($10,000 + $5,000) = $27,500. If you lived separate all year, you would claim your entire $50,000 and she her entire $25,000.

All this assumes your divorce was finalized July 31st this year, not last year. If it was finalized last year and you filed your 2005 return as "Married", you need to go back and amend it.

Answer 2

You would both file as Single. The status on the 31st of December is the one to use.

The divorce decree may define certain tax rights as to dependants and deductions. Otherwise I would split the interest and expenses in as equal manner as possible.

Answer 3

It is your marital status as of December 31 that counts. As you were divorced mid year your sole filing option is single.

If you are in a community property state you may need to split community income. Otherwise allocate shared expenses equally. Cooperate with each other cause if you do not the only person that wins is the IRS!

Answer 4

Usually if you are divorced during the year, you file taxes separately. You could try both ways to see which one works out the best. This would be the only year you would do this though.

Answer 5

You must use your status as of 12/31. If there are any children, the custodial parent files as Head of Household and the other files as Single.

Answer 6

File whatever way you get the most money back. Then split the money evenly between the two of you or put it in a fund for your kids college costs