In an individual tax return being filed MFJ, you can use the MFJ vs MFS Comparison module in TaxSlayer Pro to get an idea of how the taxpayer's and spouse's respective MFS tax returns would look.
TaxSlayer Pro also includes a module outside the tax return, the Quick MFJ vs MFS Comparison, that you can use to get a rough idea of how a couple's joint and MFS tax returns will look before you have begun working on them. Without a lot of entry work, this module can help you and them determine how they want to file if they are uncertain.
To access the Quick MFJ vs MFS Comparison in TaxSlayer Pro, from the Quick Menu select:
- Utilities
- Quick MFJ vs MFS Comparison - Beginning at the top, enter the information needed:
- Basic Information - Indicate whether the taxpayer and spouse are over age 65 or are blind, then enter the dependent information. You'll be asked for dependent info for both the joint return and the taxpayer's return.
- Income - Enter the joint and separate income amounts, allocating the taxpayer's or spouse's portion as queried.
- Adjustments - Enter the sum of all adjustments in Schedule 1 Part II other than the deductible part of self-employment tax.
- Deductions - If the taxpayers are itemizing, enter the sum of the medical expenses and the sum of all other deductions separately. (The menu line "Miscellaneous subject to 2% AGI" relates to 2017 and prior, so can be ignored in tax years 2018 and forward.)
- Credits - Enter amounts for nonrefundable credits as can be best estimated.
- Other Taxes - Enter the amount of taxes they will be paying other than self-employment tax.
- Payments - Enter the sum of any refundable credits, estimated payments, and tax withholdings.
The module will calculate the returns as you go along. Additionally, the data remains in the module until you clear it out, giving you the freedom to exit and return if needed.
Additional Information:
Desktop: MFJ vs MFS Comparison