Mfs

[jagilpin]

I have a married client who was told she needed to file separately in order to get help with her large student loans. Since the husband is filing Schedule A, does that mean that the spouse must also do schedule A even though she has very little deductions?

[spanel]

I have a married client who was told she needed to file separately in order to get help with her large student loans. Since the husband is filing Schedule A, does that mean that the spouse must also do schedule A even though she has very little deductions?

Yes it does. PS I've always been Leary about couples that come in and say if I file mfs for X number of years.. I might get some of my student loans paid. They never calculate how much they are losing because of filling separate plus the extra filling fees.

Chris

[TAXNJ]

Mfs

Reference TTB 3-11.

Standard deduction. If a taxpayer files MFS and his or her spouse itemizes, the taxpayer cannot claim the standard deduction.

There are additional references depending on all the facts in your scenario.

[ATSMAN]

Student Loan Forgiveness!

This is a good link though a bit dated:

http://www.magnifymoney.com/blog/col...iven1190167365

[RitaB]

Well, that

Yes it does. PS I've always been Leary about couples that come in and say if I file mfs for X number of years.. I might get some of my student loans paid. They never calculate how much they are losing because of filling separate plus the extra filling fees.

Chris

Well, that, and they need to pay debts they owe. That's always good. That's how loans are supposed to work.