planning to file 1040x, due to some goof up by my tax consultant.
need a clarification....
We filed under Married , filing separately.
I wanted to know if doth me and my spouse can claim stand. deducation of 5150.
cause, my consultant..used std deduction for me(5150),,,and itemized deduction (1560) for my spouse...
inputs...plz..
2007-06-07 15:11:13 · 3 answers · asked by Raghu 1 in Business & Finance ➔ Taxes ➔ United States
Yeah, your consultant messed up. Big time! If your spouse claimed itemized deductions of $1,560 YOU cannot use the standard deduction, you MUST itemize even if that amount is $0. Filing itemized deductions for your spouse with only $1,560 was his second f-up. Fire the bugger, he's incompetent. Totally. Heck, I'll get nastier than that. He (or she) is a TAX MORON.
The standard deduction is $5,150 for each of you. But if either of you itemizes, BOTH must itemize even if that results in a higher tax liability.
Unless there is some strong reason for filing separately, you should consider a joint return. It will probably result in the lowest possible tax liability. But at the very least, both returns need to claim the standard deduction of $5,150.
2007-06-07 15:24:16 · answer #1 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Well, your "consultant" screwed up. When filing as married filing separately, either both must itemize or both take the standard deduction. You can each take a standard deduction of $5150, but what's not allowed is for one of you to take the standard and the other itemize. If one of you itemizes, the other must either itemize also, or show zero for a deduction.
What's even more ridiculous is that the idiot showed $1560 for your spouse when he/she could have showed $5150! Where in the world did you find this person? I assume that next year you won't use them again.
On the 1040X, show $5150 standard deduction.
2007-06-07 17:08:41 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
I agree 100% with Bostonianmo.
2007-06-07 15:26:43 · answer #3 · answered by RopeResQ 2 · 1⤊ 0⤋