Here's When Married Filing Separately Makes Sense, According to Tax Experts

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Married couples may file income taxes jointly or separately. The tax code typically rewards joint filers, but filing apart may be better in some cases.

If you're part of an income-based student loan repayment plan, it may make sense to file taxes separately since earnings typically determine what's due every month.

If you itemize deductions, you may claim a tax break for unreimbursed medical expenses that exceed 7.5% of your adjusted gross income, she said. However, spouses filing separately must either itemize or take the standard deduction, Collado explained. They can't use different strategies.For example, you may sever returns if you've split from your spouse and can't count on them to file taxes accurately or on time, said Monica Dwyer, a CFP, vice president and wealth advisor at Harvest Financial Advisors in West Chester, Ohio.

 

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