If one spouse files and takes the standard deduction, and LATER the other spouse files and itemizes, what will happen?
Nobody can file as head of household, filing jointly is not an option.
2007-03-08 07:53:30 · 5 answers · asked by Dee 4 in Business & Finance ➔ Taxes ➔ United States
Under this scenerio the spouse claiming the standard deduction would be notified that they owe taxes on the difference between the deduction they took and -0-
If one spouse Itemizes the other spouse must itemize or take -0- as a deduction
The one claiming the standard would owe penalties and interest in addition to the additional tax computed
Publication 501
http://www.irs.gov/publications/p501/ar02.html#d0e5972
2007-03-08 08:07:33 · answer #1 · answered by Anonymous · 3⤊ 0⤋
Officially, the standard deduction for "Married filing Separately" if your spouse itemizes is $0.00. The IRS would probably 'recalculate' the return of the spouse that claimed the incorrect standard deduction and send a bill. They would them have the choice of paying the bill or amending their return to itemize deductions.
3.7 Itemized Deductions/Standard Deductions: 7. Other Deduction Questions
My spouse and I are filing separate returns. How can we split our itemized deductions?
If you and your spouse file separate returns and one of you itemizes deductions, the other spouse will have a standard deduction of zero. Therefore, the other spouse should also itemize deductions.
2007-03-08 19:14:01 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
The first person who filed would have to amend their return, either itemizing or claiming zero deduction. If they don't, the IRS will notify them that they need to make the change, or will just make it for them and bill them for the extra tax.
2007-03-08 16:22:36 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
The IRS will catch it and send a letter telling you that your tax return was filed incorrectly and they may change it and say you owe them back taxes plus penalties and interest.
Best bet is to find out in advance to avoid future headaches.
2007-03-08 16:01:39 · answer #4 · answered by R Worth 4 · 1⤊ 0⤋
Its ok to do that. For instance, one could claim the children and the other could claim the interest on the home. It is best financially to file together but definatley ok to do what you are doing.
2007-03-08 16:02:19 · answer #5 · answered by Anonymous · 0⤊ 4⤋