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What filing status should I use if I got married during 2017?
If you are married on or before December 31, 2017, you are considered to be married the whole year. You can either file as Married Filing Jointly or Married Filing Separately. Married Filing Jointly almost always gives you a bigger tax refund than Married Filing Separately.
What filing status should I use after a divorce?
If you are divorced or legally separated on or before December 31, 2017, you are considered to be unmarried the whole year. The best filing status is Head of Household if you qualify. You usually qualify for Head of Household if you have a child or dependent who lives with you for more than half the year, even if your ex-spouse claims your child as a dependent on his or her tax return. Otherwise, you would file as Single.
What is an Ohio STABLE account?
A STABLE account (Ohio's ABLE account) gives its owner tax benefits for saving for qualified disability expenses, similar to college savings accounts for college expenses. You can deduct any contributions you make to the account, up to $2,000 per beneficiary per year. Any contributions you make above the $2,000 limit can be deducted on future years' returns (up to $2,000 per beneficiary per year) until fully deducted. Contribution limits are the same for married taxpayers, regardless whether filing jointly or separately.
How should I file if I'm in a same-sex marriage?
The U.S. Department of the Treasury and the IRS ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction that doesn't recognize same-sex marriage.
What is the 529 College Savings Plan subtraction?
You can subtract the amount contributed to a qualified DC 529
College Savings Plan from your taxable income. The maximum amount you can deduct is $4,000 annually, and the contributions must be made to qualified college savings accounts you own. If you are married and file as Married Filing Jointly or Married Filing Separately - Combined Return, each spouse may deduct up to $4,000 for contributions made to all accounts owned.
How do I check the status of my federal refund?
Use the IRS's Where's My Refund? tool. You can also call the IRS at 1-800-829-1040 or 1-800-829-1954.
You can use the IRS's Where's My Refund? tool to check the status of your refund 24 hours after the IRS accepts your e-filed tax return, or 3 to 4 weeks after you mail your paper return. But if you filed Form 8379 with your return, allow 11 weeks (14 weeks if you mailed) before checking your refund status.
What is the additional Medicare tax and net investment income tax?
Starting in 2013, the Affordable Care Act (Obamacare) imposed an additional Medicare tax of 0.9% on high income earners. ($200,000 if filing as Single, Head of Household or Qualifying Widow(er); $250,000 if filing as Married Filing Jointly; $125,000 if filing as Married Filing Separately).
How much is my standard deduction?
For 2017, the standard deduction amounts are:
Do I have to set up a separate account for my spouse?
If you are filing jointly you should just use one account.
Married Filing Separately
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