Married Filing Separately

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Married filing separately is a tax status for married couples who choose to record their respective incomes, exemptions, and deductions on separate tax returns. There is a potential tax advantage to filing separately when one spouse has significant medical expenses or miscellaneous itemized deductions or when both spouses have about the same amount of income.

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Original Article Source Credits:   Investopedia ,

Article Written By:   JULIA KAGAN

Original Article Posted on:  Mar 8, 2021

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