Married & Filing Separately, What Can I Claim On My Government Taxes?
When you get married, you will suddenly have the ability to file a combined tax return. However, some people find that they will be better off by filing separately. If you are married & filing separately, there are several claims you can make on your government taxes.
Child Tax Credit
If you are married & filing separately, the first item that you can claim on your government taxes is a child tax credit. For each child that you have, you will be able to get a tax credit. However, only one credit may be claimed for each child. Because of this, if you claim the child tax credit, your spouse will not be able to make the claim the child on their tax form.
If you are married & filing separately, the next item that you can claim on your government taxes is household deductions. When you own a home you are able to deduct your mortgage insurance, real estate taxes, mortgage points, and a variety of other fees. However, if you share the household expenses with your spouse, only one of you will be able to claim the deduction on your tax return.
If you are married & filing separately, the third item that you can claim on your government taxes is your student loans and other educational expenses. Interest that you have to pay on your student loans is tax deductible. However, if you are married and file separately, you will not be able to claim your spouse’s student loan interest. To get the benefit of that deduction, your spouse will need to report it on their income tax.