What Is Married Filing Jointly?
Married filing jointly is a taxfiling status that allows a married couple to file a single tax return that records both of their taxable income, deductions, credits, and exemptions. The main alternative is "married filing separately."
Married filing jointly is generally a better choice for couples, as it makes them eligible for some advantageous tax credits and deductions. However, separate filings are preferable in some cases. For example, if there is a great disparity in earned income between the two, filing separately may allow the lower earner to maximize certain deductions.
Key Takeaways
- Married filing jointly is an income tax filing status available to any couple who has married by Dec. 31 of the tax year.
- This tax status is generally the best choice as it extends a number of tax credits designed to benefit families.
- Taxpayers are required to choose a tax filing status by checking off the appropriate box at the top of the first page of Form 1040.
- Married filing jointly allows a couple to use only one tax return.
- Both spouses are equally responsible for the return and any taxes and penalties owed.
How Married Filing Jointly Works
Taxpayers are required to indicate their tax filing status on the top of the first page of Form 1040 by checking off the appropriate box. The options include:
- Single
- Married filing jointly
- Married filing separately
- Head of household
- Qualifying surviving spouse
Married couples filing jointly generally have access to more tax benefits.
When using the marriedfiling jointly filing status, bothspouses are equally responsible for the return and the taxes. If either one understates the taxes due, both are equally liable for the penalties, unless the other spouse can prove they were unaware of the mistake and did not benefit from it.
Married Filing Jointly vs.Married Filing Separately
When using married filing jointly status, your total combined tax liability is oftenlower than the sumof your individual tax liabilities if you had filed separately. The Internal Revenue Service (IRS) encourages couples to file together by offering them various tax benefits that don’tapply to other filing statuses.
Couples who file together qualify for multiple tax credits, including:
- Earned Income Credit (EIC)
- Child and dependent care credit
- American opportunity tax credit (AOTC)
- Lifetime learning credit (LLC)
- Saver's tax credit
A joint tax returnoften provides abiggertax refundora lower tax liability. However,this is not always the case.
A couple maywant to investigate their options bycalculatingtherefund or balance due when filing jointly and separately. Then use the onethat providesthe biggest refund or the lowest tax liability.
Taxes can get pretty tricky. When in doubt, see a professional tax preparer.
Married Filing Jointly Requirements
You can use the married filing jointly status if both of the following statements are true:
- You were married on or before the last day of the tax year. In other words, if you were married on Dec. 31, you are considered to have been married all year. If you were unmarried, divorced, or legally separated (according to state law) on Dec. 31, you are considered unmarried for the year. There is an exception to this rule for the death of a spouse.
- You and your spouse both agree to file a joint tax return.
Before filing taxes, married couples should run some calculations to determine whether it makes more sense financially for them to file jointly or separately. Filing jointly is usually more rewarding, although not in every case.
Ifyou were not divorced or legally separated on Dec. 31, you are still considered unmarried if all of the following apply:
- You lived apart from your spouse for the last sixmonths of the tax year (not including temporary absences for reasons such asbusiness, medical care, school, or military service)
- You file your tax return separately from your spouse
- You paid over half the cost of keeping up your home during the tax year
- Your home was the main home of your child, stepchild, or foster child for more than half of the tax year
Is It Better to File Taxes as Married Filing Jointly?
Most couples find that filing jointly makes sense financially. The tax code is written to benefit married couples and families, and this status is the one that maximizes those generous tax breaks.
There are exceptions when filing separately saves you more. For example, if there's a big disparity in income and the lower-earning individual has substantial itemizable deductions, filing separately can save the couple money.
When in doubt, try it both ways or see a tax adviser.
When Should Married Couples File Taxes Separately?
Despite the many benefits of filing jointly, there are instances in which filing separately may be more beneficial. This may be the case, for example, if one of you has significant miscellaneous deductions or medical expenses to claim.
What Is the Standard Deduction for Married Filing Jointly?
The standard deduction for married couples filing jointly in the 2023 tax year is $27,700. This is the amount that is not subject to taxation. This threshold increases to $29,200 in 2024.
The Bottom Line
Married filing jointly is one of the statuses that taxpayers can choose when they file their annual tax returns. This status is used by married couples who decide to file a single return. The couple must include their total income, deductions, and credits on that return.
For most couples, filing jointly has advantages, including a lower tax bill or a higher refund.
When in doubt, prepare separate and joint returns to see which one makes more sense.
FAQs
There is one potential huge drawback to filing jointly: As a general rule, when a married couple files a joint return each spouse is jointly and individually liable for the entire tax owed on the return. This means that either spouse can be required to pay the tax due, plus any interest, penalties, and fines.
How to determine if it's better to file jointly or separately? ›
Key Takeaways
More Room for Tax Breaks: Filing together usually means you can earn more and still qualify for certain tax breaks, like IRA contributions and education credits. Watch Out for Higher Rates: If you file separately, you might pay higher taxes than if you teamed up on a joint return.
What is the meaning of married filing jointly? ›
What Is Married Filing Jointly? Married filing jointly is a tax filing status that allows a married couple to file a single tax return that records both of their taxable income, deductions, credits, and exemptions. The main alternative is "married filing separately."
When should you not file jointly? ›
There are several situations in which a couple should file separately. These include divorce or separation, issues with liability, the repayment of student loans, or different pay scales.
Is there an advantage to filing jointly? ›
The benefits of filing jointly
Tax-free exclusion, typically of US bond interest and Social Security benefits. Credit for disabled or elderly status and deductions for some educational expenses, including student loan interest. Deduction of certain retirement plan contributions and some losses.
Can I file jointly if my spouse has no income? ›
Married Filing Jointly. If you are married, you and your spouse can choose to file a joint return. If you file jointly, you both must include all your income, deductions, and credits on that return. You can file a joint return even if one of you had no income or deductions.
Do you get more money back filing jointly or separately? ›
For most couples, filing jointly will be the right move, thanks in part to two key factors: the standard deduction and additional tax deductions and credits. For the 2024 tax year, the standard deduction for joint filers is $29,200-twice the $14,600 for those who file separately.
Can you claim your spouse as a dependent if they don't work? ›
If you maintain a residence with your spouse and financially support them, your spouse may be a dependent in a financial sense but not for tax purposes. Essentially, you can't claim someone as a dependent for the tax year unless that person is your qualifying dependent: either a qualifying relative or qualifying child.
Why would a married couple file separately? ›
A couple may pay the IRS less by filing separately when both spouses work and earn about the same amount. When they compare the tax due amount under both joint and separate filing statuses, they may discover that combining their earnings puts them into a higher tax bracket.
How much is the tax credit for married filing jointly? ›
The 2023 standard deduction for married couples filing jointly is $27,700. This applies to taxes filed by April 15, 2024, or by Oct. 15, 2024, with an extension. For 2024 (taxes filed in 2025), the standard deduction rises to $29,200 for married couples filing jointly.
Additional Standard Deduction for People Over 65
| Filing Status | Taxpayer Is: | Additional Standard Deduction 2024 (Per Person) |
|---|
| Single or Head of Household | Blind | $1,950 |
| Single or Head of Household | 65 or older | $1,950 |
| Single or Head of Household | Blind AND 65 or older | $3,900 |
3 more rowsMar 11, 2024
If someone else claims you as a dependent, like a parent, you should not claim any allowances. Depending on your life circ*mstances, you and your spouse can claim one allowance. If you are married but don't have children and work jobs, you should consider each claiming one allowance.
What are the disadvantages of filing married filing separately? ›
Cons of married filing separately
- Not being able to take a deduction for student loan interest.
- Typically being limited to a smaller IRA contribution deduction.
- Being disqualified from several tax credits and benefits available to those married filing jointly.
Standard Deduction 2023-2024: How Much It Is, When to Take It. The 2024 standard deduction for tax returns filed in 2025 is $14,600 for single filers, $29,200 for joint filers or $21,900 for heads of household.
How much money do you save filing jointly? ›
Higher standard deduction
Married couples who file jointly also get the highest standard deduction (or how much money you deduct from your taxable income without itemizing). The IRS set the following amounts for the standard deduction for 2023 tax returns: $27,700 – married filing jointly or qualifying surviving spouse.
Is there a benefit to filing married filing separately? ›
Filing separately to guard the future
When you don't want to be liable for your partner's tax bill, choosing the married-filing-separately status offers financial protection: the IRS won't apply your refund to your spouse's balance due.
How much of a tax break is married filing jointly? ›
Standard deduction amounts
The standard deduction for 2023 is: $13,850 for single or married filing separately. $27,700 for married couples filing jointly or qualifying surviving spouse.
Does married filing jointly take out less taxes? ›
Options for Married People
In most cases, filing a joint tax return will result in a lower tax bill, since it allows for a number of tax breaks not available to other filers. In less common cases, filing separately is advantageous.
Do you get penalized for filing jointly? ›
A marriage penalty is an additional liability that married couples face. This penalty kicks in when married couples file a joint tax return together. A variety of factors can influence whether a couple will face a marriage penalty.
