Married Filing Separately (MFS)

Married Filing Separately (MFS)

Married taxpayers who are eligible for the married filing jointly status can voluntarily choose to use married filing separated status. Under this status the income and expenses of the couple are reported on separate tax returns whereas credits and exemptions entitlement is halved. If one spouse decides to itemize his/her deductions the other spouse cannot claim standard deduction and must itemize. 

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