How do my spouse and I know what our net income is if the other person hasn’t done their tax return yet?
Your spouse's net income for the tax year is required to calculate certain spousal credits.
First, you should determine whose return to prepare first.
Most spousal amounts don’t apply if your spouse’s net income exceeds approximately $15,000. So, if one of you has a net income close to or under $15,000, you should prepare the return of that person first.
If you’re confident your spouse’s income is well above $15,000, enter an estimate of their income, but be aware that certain amounts, such as childcare expenses, must be reported on the return of the person with the lower income.
If you choose to prepare your returns together at the same time, TurboTax can automatically optimize credits and deductions between you.
- As a married taxpayer, is it better to file my tax return together with my spouse, or separately?
- How do I add my spouse's tax return while I’m preparing my own?
- In TurboTax Free for tax year 2015 or 2016, how do I switch between my tax return and my spouse or common-law partner’s tax return?
- What do I do if I don’t know my spouse’s income?