My accountant told me that if I file as married but filing separately, I cannot writeoff the investment condo depreciation? He is stating that as a single or married but filing joint are allowed to get beneift of my real estate investment depreciation; however, the tax law prevents this beneift for individuals that are filing as married but separately? Is this true?
2007-04-03 18:13:51 · 3 answers · asked by pcs3gnow 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
Doesn't sound right to me. You could always call the IRS and ask. There are a number of disadvantages to married filing separately, but this is one I sure haven't heard of.
2007-04-04 07:04:22 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
record an amended return. you're actually not allowed to declare a private exemption on your NRA spouse. the place her SSN might pass, write Non-Resident Alien. She does not have an SSN so in spite of SSN you used did not belong to her. the guy to whom it did belong filed a return that itemized deductions and it is the reason you purchased stung with the IRS be conscious. you will nevertheless owe tax for improperly claiming a private exemption for her yet a minimum of this is below the shortcoming of the primary deduction. on the different hand you could record a joint return together with her if she is of an identical opinion to have her international huge earnings situation to US taxation. you will might desire to connect a joint assertion signed by potential of the two one among you to that impression on your amended return and each joint return you record as long as she's NRA. you will additionally might desire to connect a variety W-7 utility for ITIN so as that she gets an ITIN on condition that she does not have a SSN. That basically desires to be accomplished as quickly as.
2016-11-07 04:20:29 · answer #2 · answered by ? 4 · 0⤊ 0⤋
you need to find yourself a new accountant and soon
2007-04-04 01:39:15 · answer #3 · answered by Jo Blo 6 · 0⤊ 0⤋