Filing taxes joint or separately - separated but not divorced

Katy

My husband and I are separated but not yet divorced. I have filed our taxes as joint, altho we now live in different states. I wonder if we should start filing Married, filing separately? And how would we pay the dividends on funds in both of our names? Thank you.

MadisonY

If you are separated but not Legally separated or divorced by the end of the year then the IRS considers you married for filing purposes until you get a final decree of divorce or separate maintenance. In this case, it is up to you and your spouse to choose whether you would like to file jointly or separately.

If you choose to file separately, then you and your spouse would need to determine how to split the dividends. You may need to consult with a financial advisor and/or your lawyer to determine the best way to manage your shared dividends.

If you are Legally separated or divorced by the end of the year, then you would need to file as single, unless you are eligible to file as head of household, or you remarry by the end of the year.

Here are a few IRS links that you may find helpful to review:

https://www.irs.gov/publications/p504

https://www.irs.gov/individuals/filing-taxes-after-divorce-or-separation

https://www.irs.gov/help/ita/what-is-my-filing-status