Tax filing for marriage in 2024

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veryverylazy
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Joined: Mon Apr 04, 2022 8:13 pm

Tax filing for marriage in 2024

Post by veryverylazy »

Hello, Bogleheads community!

You guided me a lot earlier. So, I am asking what would be a suitable avenue for me to file taxes. I got married in the middle of 2024. before our marriage, my wife was living in State A. After marriage, she moved to State B to live with me, and her employer allowed her to work remotely. In this situation, should we file tax returns jointly, or should we file taxes individually? Both state A and state B have state income taxes. Our income scenario is simple: we rent an apartment and have our W2 I099 (from mutual funds). In this case, should we hire Turbotx or H&R Block? Should we hire a tax consultant to file our taxes?
secondcor521
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Re: Tax filing for marriage in 2024

Post by secondcor521 »

It is almost always more beneficial to file MFJ rather than MFS. One recently notable exception is if either of you have income based repayment on student loans. You can always run the taxes both ways and see for sure.

Tax software can probably handle your situation and will cost you up to maybe $50. A tax preparer can also handle your situation and will probably charge over $250.
puravida23
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Joined: Fri Jan 27, 2023 12:09 pm

Re: Tax filing for marriage in 2024

Post by puravida23 »

Congratulations to both of you. :happy You can also enlist the free services of AARP TaxAide to get you started on your tax preperation as a couple. Find a location near you at: https://www.aarp.org/money/taxes/aarp_taxaide.html .
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CAsage
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Re: Tax filing for marriage in 2024

Post by CAsage »

The only complexity to your 2024 return is the dual-state "problem". Many states will assess income taxes for income earned while living in their state, and it's usually offset by the second state. Our VITA/AARP tax prep center locally won't handle dual state returns (very simply, we cannot train volunteers on other state laws). You should research how much (if any...) income tax is even due to State A. In general, your taxes 2025 and forward are very simple, and learning to DIY with either Turbotax, HRBlock Taxcut, or another software will be far cheaper. Extra states usually cost a bit more, and again they will charge for e-filing a state return (which can be avoided by simply mailing in the forms).
Salvia Clevelandii "Winifred Gilman" my favorite. YMMV; not a professional advisor.
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lthenderson
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Location: Iowa

Re: Tax filing for marriage in 2024

Post by lthenderson »

veryverylazy wrote: Mon Feb 03, 2025 8:01 pm should we hire Turbotx or H&R Block? Should we hire a tax consultant to file our taxes?
In my personal experience, I have received grumbles when I ask tax consultants at chain tax preparation places to run different scenarios such as is it cheaper to file taxes MFJ or both as individuals. I don't always trust them to give me accurate advice and have proved them wrong before. Most tax preparation chains just seem to want to plug in your data and hit submit. Fortunately buying my own tax software gives me the freedom to do as many scenarios as I please with nobody there to grumble at me. It is also much much cheaper and I gain knowledge about how my actions affect my tax bill. I would buy the tax software of your preference and experiment away on different scenarios.
We're wolves
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Re: Tax filing for marriage in 2024

Post by We're wolves »

lthenderson wrote: Tue Feb 04, 2025 8:02 am In my personal experience, I have received grumbles when I ask tax consultants at chain tax preparation places to run different scenarios such as is it cheaper to file taxes MFJ or both as individuals. I don't always trust them to give me accurate advice and have proved them wrong before. Most tax preparation chains just seem to want to plug in your data and hit submit. Fortunately buying my own tax software gives me the freedom to do as many scenarios as I please with nobody there to grumble at me.
Is there a way to do this in desktop version of Turbotax? Run both scenarios to see if it is cheaper to file MFJ vs MFS?
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lthenderson
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Location: Iowa

Re: Tax filing for marriage in 2024

Post by lthenderson »

We're wolves wrote: Tue Feb 04, 2025 8:29 am
lthenderson wrote: Tue Feb 04, 2025 8:02 am In my personal experience, I have received grumbles when I ask tax consultants at chain tax preparation places to run different scenarios such as is it cheaper to file taxes MFJ or both as individuals. I don't always trust them to give me accurate advice and have proved them wrong before. Most tax preparation chains just seem to want to plug in your data and hit submit. Fortunately buying my own tax software gives me the freedom to do as many scenarios as I please with nobody there to grumble at me.
Is there a way to do this in desktop version of Turbotax? Run both scenarios to see if it is cheaper to file MFJ vs MFS?
Yes, input all your information one way and then make note of the result. Click on the "Personal Info" tab, scroll down to "Your Filing Status" and click "Edit". On next screen select "Change Filing Status" and then choose the other option. Note the change in results.
MarkNYC
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Re: Tax filing for marriage in 2024

Post by MarkNYC »

The choice of filing status in this situation might not be so easy. In most cases it's better tax-wise to file the federal tax return married joint rather than married separate. Let's assume that's true here. Most, if not all states generally require the same filing status on the state return as was used on the federal return. But filing both states jointly is likely a bad choice tax-wise.

But even when filing joint federally, some states will allow filing the state tax return separately if one spouse was a full-time or part-time resident and the other spouse was not. So the optimal filing status choice is likely to be joint on the federal return and separate on the state returns - if the states involved allow it.

I think most people understand that states have different laws and rules for income tax filing. So I'm puzzled why so many posters with multi-state tax questions choose to leave the specific states involved unnamed?
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sycamore
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Re: Tax filing for marriage in 2024

Post by sycamore »

puravida23 wrote: Tue Feb 04, 2025 5:25 am Congratulations to both of you. :happy You can also enlist the free services of AARP TaxAide to get you started on your tax preperation as a couple. Find a location near you at: https://www.aarp.org/money/taxes/aarp_taxaide.html .
This could work out well but ask your local TaxAide site if they have preparers who are certified for both states in question. Like I'm only certified in my own state. A few colleagues are certified in our state plus a couple of neighboring states. And a couple colleagues are also certified in a different more distant state.

If they don't have preparers certified for both states, the site couldn't be able to do it all themselves -- there is a way to ask certified TaxAide preparers from another site to help on a particular return. Take some effort & coordination though.
We're wolves
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Re: Tax filing for marriage in 2024

Post by We're wolves »

lthenderson wrote: Tue Feb 04, 2025 9:28 am
We're wolves wrote: Tue Feb 04, 2025 8:29 am

Is there a way to do this in desktop version of Turbotax? Run both scenarios to see if it is cheaper to file MFJ vs MFS?
Yes, input all your information one way and then make note of the result. Click on the "Personal Info" tab, scroll down to "Your Filing Status" and click "Edit". On next screen select "Change Filing Status" and then choose the other option. Note the change in results.
thanks so much, very helpful
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