For 2018, I will be splitting my pension income with my husband. I need some advice on how to approach this with Turbotax

[dugmcv]

My husband and I have been using TurboTax for years; we each have our own login w Turbotax and we each prepare our own tax submissions independent of each other. 

With our 2018 returns, I will be splitting some of my pension income with my husband. I’m looking for some advice on how we would approach this. 

It seems logical that we must both use the same Turbotax account; and that I should do my return first, since i’m the one with income to be split. Is that how we should proceed? 

Will it be straightforward for us to do two returns from the same account? Are there any pitfalls we should be aware of?

Thanks in advance for your advice.

[TurboTaxJennifer · Accepted solution]

One of the great benefits of preparing a "coupled" return (both returns prepared simultaneously) is that it allows TurboTax to do the calculations using both spouse's info.

The built-in pension splitting optimizer is a terrific tool in coupled returns. Once you have entered both spouse's info, the optimizer will determine the exact amount of pension to split - down to the last dollar. TurboTax will also optimize your medical expenses and charitable donations to deliver the best results overall.

My advice? I have two tidbits for you 🙂

1. Try a coupled return. Just select yes to the question early on that asks if you'd like to prepare both returns. If you don't like the coupled experience, no worries! You don't have to pay until you file so you can abandon the coupled return and opt for two singles.

2. Once you use the pension splitting optimizer and add any other information (There's always that one receipt that shows up late!) be sure to run the optimizer again. Any new info might affect the optimal number.

https://turbotax.community.intuit.ca/replies/2648033