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Do I have to file all of my W-2's & what's the best way to file?
I know I have to file my primary job's W2's because of my gross income. My second job the income was only $3,450. Do I have to file the W2 for my part time job? And my husbands income was only $4,925. Should we file separate tax returns or does he have to file at all?
6 Answers
- falsi fiableLv 71 decade agoFavorite Answer
There's no such thing as a primary job. You have to file ONE 1040-EZ return that combines income from all your jobs (W-2s) and 1099s. You can file with status "Married Filing Separately" or "Married Filing Jointly" and include all of your husband's income too.
- 1 decade ago
Of course you have to file ALL W-2s! Where would you ever get the idea that you can ignore income on your tax return?? Your GROSS income is every dime that you earned, not just from your "primary" job.
You can file a joint return with your husband or you can both file separately. If his income is only $4,925 he would not have to file unless you itemized your deductions on a separate return. If you file a joint return, you include all income that the both of your earned. Normally a joint return will result in a lower tax liability over all but you can run the numbers both ways to be sure.
- JssLv 71 decade ago
Yes, you must report all your income (that is all the W-2s) on your tax return.
You can file as married filing jointly (MFJ) or married filing separately (MFS). In most cases, it is better to file as married filing jointly. On the joint return your standard deduction is $11,400 and you get two exemptions.
If you file as married filing separately, you will not get many credits and deductions including EIC.
On the joint return the liabilities are joint. If one spouse owes tax, both spouses are equally responsible.You may file Form 8379 with joint return.
This is from IRS publication 17: Your Federal Income Tax. Tip. If you and your spouse each have income, you may want to figure your tax both on a joint return and on separate returns (using the filing status of married filing separately). Choose the method that gives the two of you the lower combined tax.
Source(s): Married Filing Status http://taxipay.blogspot.com/2008/02/filing-status-... - JudyLv 71 decade ago
Yes you have to file ALL of them if you have a filing requirement at all.
You'll be better off financially to file a joint return, it won't cost more tax and will likely cost less if you owe any at all. If you file as married filing separately, yes he's over the $3695 limit to have to file for MFS.
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- SlickterpLv 71 decade ago
Yes, you must file all income. The IRS gets copies of your W2's.
File jointly, you will get the best result.
- 1 decade ago
If you make over $600, as a household, in a year, you MUST file. File married filing jointly...you will get a bigger standard deduction.
Source(s): I am a business owner, and also working on my accounting degree, and have filed my own taxes every year.