Tax 101: Married, Filing Seperately & Community Property (Part 7 of 7)

2 IRS CE/CTEC/NASBA CPE*

Married filing separately is an election that married couples can make to potentially reduce one, or both, of their tax liability. It's often popular for taxpayers on income based repayment plans for student loans. However, there are different things that must be considered when living in a community property state. Because we have two hours, we will spend time looking at the marriage penalty and how to talk to clients about it, what is meant by community property, and how it might work in a state like California.

This 2 hour course will cover:
1. What is married filing separately and the marriage penalty
2. What is community property state and how it affects return filing
3. How to complete a return in a community property state with Form 8958

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*Self-Study recording available for IRS CE Credit only (NO CPE)

NASBA Field of Study: Taxes

IRS Program #: 7Q3WU-T-00976-26
CTEC Course #: 6248-CE-00333