How to Determine Your Tax Filing Status

  • Disclaimer: The content of this page is intended for general informational purposes only and is not a substitute for professional financial advice.

Guide Note: One of the first steps in doing your taxes is figuring out your filing status. Your filing status is directly related to your marital status and whether or not you have any children.

How to Determine Your Tax Filing Status will walk you through the five different possible filing statuses offered by the IRS.

Disclaimer: The content of this page is intended for general informational purposes only and is not a substitute for professional financial advice.

Contact the IRS or a professional financial advisor for the most up-to-date and complete information regarding state and federal tax law.

Introduction

  • One of the first things you must determine in order to prepare your taxes is your filing status. Your filing status helps determine how large of a deduction you can take and what your taxable income for the year will be. [1] Needless to say, it's important to get it right. Your filing status is typically determined by your marital status on the last day of the year. [2] The following guide will walk you through the five different possible filing statuses.

How to Determine Your Filing Status

  • Have kids? You may be able to file as "head of household". (Photo by Asif Akbar)
    Have kids? You may be able to file as "head of household". (Photo by Asif Akbar)
  • The IRS requires that you identify your tax status in one of the following five ways:
  1. Single: If, on the last day of the tax year, you were unmarried or legally separated, your filing status is "single." [3]
  2. Married Filing Jointly: You and your spouse report your incomes on one tax return. You are both required to sign the return. [4]
  3. Married Filing Separately: If it reduces your tax bill, you and your spouse can file separately. You and your spouse are then each responsible for your own taxes. [5]
  4. Head of Household: Head of Household is a special status, which entitles you to a lower tax rate. You may be able to file as "head of household" if you are single, paid more than half the cost of keeping up a home and have a "qualifying person" such as child living in your home for more than half the year. [6]
  5. Qualifying Widow(er) with Dependent Child: This status may apply to you if your spouse died in either of the two preceding tax years and you have a dependent child. [7]

Advertisements

TurboTax - Do your taxes for Free - It's Easy

Resources for How to Determine Your Filing Status

Related Searches

How to File Your Taxes | How to File for a Tax Extension | How to Choose the Right Tax Forms | How to Avoid a Tax Audit | IRS | Tax Reform | How to Manage a 401(k) | How to Save Money | How to Make a Budget | How to Get Out of Debt



Have any great tips on How to Determine Your Filing Status? Post your thoughts to the discussion board or email them to Julia: Julia at mahalo dot com.