got married and had my newborn baby on Dec 31 2006. I know if I was single and include my dependent I will receive more refund. I'm not sure if I should include my husband on my tax return, I'm afraid I'll get less. I wondered if I have to since I recently added him to my checking account.
2007-01-27 02:00:24 · 7 answers · asked by ariesmegs 2 in Business & Finance ➔ Taxes ➔ United States
I don't think you can file single anymore.
You have to either file "married filing jointly" or "married filing separate".
My husband and I were also married last year and we ran the numbers for both filing statuses. It was more beneficial, even without a child, for us to file jointly. We were able to take a bigger exemption.
Hope this helps, and congratulations!
2007-01-27 02:47:42 · answer #1 · answered by Dawn S 3 · 0⤊ 0⤋
Married couples almost always pay less tax by filing a joint return. You'll get two personal exemptions, one for each of you.
Since your baby was born in 2006, you can claim an exemption for her on your taxes, giving you a total of 3 exemptions.
Contrary to what one other poster stated, since you and your husband are married, you can NOT file a single return or as Head of Household. The only other option is Married, Filing Separately. MFS usually will cost you more in taxes though there are rare circumstances where it is beneficial to go that way.
2007-01-27 10:46:07 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Legally the IRS will consider you married the entire year, so you have two choices in filing this year: 1) Married Filing Joint, 2) Married Filing Seperate. In most cases MFJ is the best case senario. You can no longer file as single. You should contact a tax professional and ask them to do a filing comparrison to see what would be more beneficial to your situation. If you do decide to file seperate than many of the credits you might be qualified for (such as the Earned Income Tax Credit) are disallowed because of the Married Filing Seperate filing status, so be careful.
2007-01-27 10:28:01 · answer #3 · answered by emeraldsky21 2 · 1⤊ 0⤋
You are married, so you can't legally file as single. You can either file a joint return with your husband, or can file as married filing separately. Joint will almost surely be better for you than married filing separately. Married filing separately is NOT the same as single, and uses different rules and a different column from the tax table.
Congrats on the baby, and on getting in under the wire to claim the baby on your return this year.
Don't forget to claim the EIC if you're eligible, which you should be if together you made under $36,000 and you file a joint return. If you file as married filing separately, you can't get the EIC.
2007-01-27 12:40:02 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
Hi luvlyfnbreal
It usually is better to file a joint return. You can legally do it either way. You can file singly claiming the baby as a dependent for the year and your husband can file singly.
Almost always it it better to file a joint return. You combine your income and your return will show three exemptions. This saves you a few dollars in the long run.
Your baby couldn't have been born on a better day as far as deductions go. You get the deduction for the whole year.
Norm
Norm
2007-01-27 10:03:41 · answer #5 · answered by Anonymous · 1⤊ 1⤋
Legally, as of midnight 12/31, you were married with a dependent. Your alternatives are married filing joint, or married filing separately. If you are in a community property state, married filing joint would be your best method. The alternative would be married filing separately, but in a community property state there is no advantage and would probably cost you more.
2007-01-27 10:20:58 · answer #6 · answered by Bill C 1 · 0⤊ 0⤋
it depends who you have qualified as head of household and if you are both employed or not and who has the right to claim who for the year
2007-01-27 10:07:34 · answer #7 · answered by harold g 3 · 0⤊ 3⤋