Divorce – Top 10 Tax Mistakes

  • Written by Dottie
  • Posted January 13, 2010 at 4:56 PM

Splitting Assets Between Husband and Wife Without Considering the Property’s Basis
Losing the Benefit of the Child Tax Credit and HOPE and Lifetime Learning Credit
Assuming that the Payment of Attorney and Expert Fees is Deductible
Filing a Joint Return
Disguising Child Support as Alimony
Not Specifying That Alimony Ends at Death
Assuming That the Capital Gains Tax is Based on [...]

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Considerations for Filing a Joint Return

  • Written by Dottie
  • Posted at 4:54 PM

Married individuals who file separately:

Cannot make a rollover contribution to a Roth IRA.
The phase out for contributions to a Roth IRA begins at $0 and is fully phased out at $10,000.
The child care, child tax credit and earned income credit generally are not available.
The HOPE Scholarship, Lifetime Learning Credit and deduction for qualified higher education [...]

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Filed under: Miscellaneous