im married with one child and my spouse has a w-2 return. she wants to file seperately . i made less than 10000 last year
2007-01-27 12:12:47 · 8 answers · asked by james g 1 in Business & Finance ➔ Taxes ➔ United States
If you are married, you have two options for filing:
-Married filing jointly
-Married filing separately
In general, the joint return will give you the biggest tax refund.
2007-01-27 12:16:59 · answer #1 · answered by TaxGurl 6 · 0⤊ 0⤋
Your earnings reported on a 1099 (which should mean you were working as an independent contractor or are self-employed) will be subject to both income taxes and self-employment taxes. If you have no expenses to deduct against the 1099 income, you can just include the income on the "other income" line on form 1040. If you have expenses you would like to claim agains the income, you are going to need to prepare a schedule C.
In either case, you will also need to prepare a schedule SE. This is the form where you compute your self-employment tax.
It is almost better tax-wise to file jointly with your spouse, although there are rare occasions when this is not the case, and sometimes people have good reasons besides the amount of tax to file separately.
2007-01-27 12:23:50 · answer #2 · answered by Take Responsibility 2 · 1⤊ 0⤋
If you are married with one child, you are probably losing money if you file separately. Unless you did not live with your wife and child at any time during the last six months of the year, you and your wife would have to file Married Filing Separately, which excludes you from the Earned Income Credit.
If you file a joint return and have joint income less than $34K, you will get the EIC.
If your spouse will not file with you, and you cannot agree who takes the child as a dependent, then the spouse with the higher AGI gets to claim the child as a dependent.
If you file as Married Filing Separately with only your own exemption, you will owe less than $200 in tax. So, the child's exemption is worth almost nothing to you, and it really doesn't matter if you have the dependency exemption since you won't get any EIC anyway.
Use Schedule C to show your 1099 income and expenses.
2007-01-27 12:22:36 · answer #3 · answered by ninasgramma 7 · 0⤊ 0⤋
Married filing jointly would probably better from a tax perspective. If you and your wife can't agree on this issue, taxes are the least of your problems. You need a marriage counselor more than a tax adviser.
2007-01-27 13:58:16 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
You can file either married or separately but check the amount of refund both ways before deciding..You may get more back filing jointly than separately.
2007-01-27 12:20:59 · answer #5 · answered by Betty Boop 5 · 0⤊ 0⤋
whether or not you file jointly or separately, you will have count your 1099 earnings as income and will have to pay taxes on that money.
2007-01-27 12:18:27 · answer #6 · answered by breezygirl 3 · 1⤊ 0⤋
u will get carry of the 1099 purely such as you woul a w2....i think u can nonetheless flow 1040ez yet i'm no longer specific. in case you flow to the irs web site you will detect out.or you could call them
2016-11-01 11:04:04 · answer #7 · answered by ? 4 · 0⤊ 0⤋
you should file jointly!
2007-01-27 12:15:55 · answer #8 · answered by Dennis 2 · 0⤊ 0⤋