Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- Re: MFS in Community Property State
MFS in Community Property State
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
MarinaEA
Level 4
09-07-2022
06:36 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Anyone has filed MFS in Community Property State? I wonder if it's even worth trying since all income, deductions, etc must be split 50/50 anyways. The situation is: taxpayer works and a shareholder of two S Corp with losses from one S Corp, and the 2nd S Corp has significant income. His spouse works and makes good money too. They have two kids. Sounds, it would be a major pain to split everything 50/50 with all income, S Corp losses and income, etc. Wonder if it's worth trying. In what situations it may make sense?
1 Comment 1
Terry53029
Level 14
09-08-2022
09:04 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
ProSeries Pro has a MFJ/MFS worksheet under planning. just activate the worksheet, and it takes seconds to compare. Not sure how good it is with complicated returns.
