Question For Musiclover12

iVillage Member
Registered: 10-10-2003
Question For Musiclover12
3
Wed, 08-20-2008 - 4:54pm
Hello, I hope things are going well for you!! I have a question about taxes,and divorce. If my divorce is finalized before the end of the year, can we still file joint, because we were married for the most part of 2007? I was just wondering how that went, I would like to maximize our return as much as we can and buy filing jointly, one more time then we should get a nice return next year. And as far as for next years taxes is it better to file as Head of Household or as a single tax payer?? I'M trying to think of ways to get more $$ together for my move next June. We went to try to refinance the house, and just what I was afraid would happen, happened. He has soo much debt now, he cant buy me out of the house. I'M thinking if we can just refinance and not take some cash out of it then I might just do it to get my name off the mortgage. I was hoping I could get some cash out of the equity, but hes screwed me out of that. I don't want to give it to him but I don't want to be responsible for it either. IT sucks because I know we have at least $30,000 in equity. We could try to sell it but our son who has some learning disabilities will ahve no where to live and he works just down from where we live, and stbx works not to far so it just makes better sense for him to have the house. We are going to try to pay alot of the debt off in the next 3 months and try to refinance again in Dec. Thanks ahead of time for any advice or suggestions you or anyone else has! ~Mary~
iVillage Member
Registered: 11-22-2001
Wed, 08-20-2008 - 5:02pm

I'm not music lover but ....you can look up all of the "rules" on IRS.gov. I believe how you are at the end of the year dictates on how you can file. So, if you are divorced in December 07 and livign separately, you can file single/head of household in April of 08.


Every year I file "Head of Household" as I am the head of my house and the sole income here-raising kids......


Check out IRS.gov......

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iVillage Member
Registered: 01-10-2006
Thu, 08-21-2008 - 1:16am

I'm not music lover, but I do prepare taxes so I can answer this question. If you're divorced by the end of the year, the IRS considers you single and you can file the single/head of household option then.


If the divorce isn't final, however, you have the option of filing jointly or married filing separately. You can only file head of household in this situation if you've been separated for the last 6 months of the year. If you've lived with him you can't.

iVillage Member
Registered: 11-28-1999
Thu, 08-21-2008 - 10:31am

Well, I see I'm too late in answering questions.