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Posted by Kunta Kinte on March 12, 2007, 4:34 am
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>> 1) Can Marrieds switch status from year to year (ie last
>> year MFJ, this year MFS without repercussions?
> Yes.
>
> [snip]
>> Why:
>> 1) Have been filing MFJ for years.
>> 2) We're getting hammered by the AMT (extra 10K projected
>> for 06)
>> 3) Due to AMT we get no reduction in tax liability for ~24K
>> in real estate taxes
>> 4) Real estate taxes are split 17 & 7 (primary res and
>> 2nd res)
>> 5) taxable spouse income about 28X (yes 28) mine.
>> 6) Real estate titles held in both names
>> 7) my income is enough that the property taxes could help
>> reduce my income. And by myself I'm not subject to AMT.
>> So, we hope to reduce my tax liability, spouses AMT
>> liability and overall reduce the tax liabiilty as a
>> whole.
> Are you just assuming filing MFS will help, or have you
> actually run the numbers? Because MFS is at its worst when
> one spouse has most of the income (which is your case). So
> it is cerainly possible that while filing MFS might make
> some/all of your *AMT* go away, as a couple you might
> *still* end up paying more total tax than if you filed MFJ.
Yes, that is what I found total liab jumped by by amount 20K
(and though I tried many things nothing had more than a
notional difference better than that)
Next up! Divorce! That silly license gives the Gubment way
to much coercive ability...
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