Tax Filing Status: Married Filing Jointly

Married Filing Jointly in 2024

Taxpayers who file Married Filing Jointly not only receive the largest standard deduction and have a higher maximum income amount for the phaseout of many tax benefits, but they also have the lowest overall taxes on their income. There are nuances to all of this, so continue reading and always work with your Tax Pro on what’s right for you.

What are the 5 filing statuses?

Before we go deeper, there are 5 tax filing statuses the IRS recognizes.

• Single
• Married Filing Jointly
• Married Filing Separately
• Head of Household
• Qualifying Surviving Spouse

You can fall into more than one filing status (for example, if you’re married and you’re both able to file jointly or separately, as we discuss in this article), so it’s best to go with the status that could offer the maximum deductions and credits you’d qualify for, so that you pay less in taxes, or get a bigger refund.

You also use your current tax filing status to properly fill out an IRS Form W-4, which is the standard tax form used by employers to know how much federal tax to withhold from the employee’s paycheck.

What Is Married Filing Jointly filing status?

The most common filing status for married couples is Married Filing Jointly, where married couples file a tax return together. If your spouse passed away during the year for which you are filing your tax return, you may still file as Married Filing Jointly.

But also keep in mind that taxpayers who file as Married Filing Jointly are both responsible for the taxes owed that tax year and cannot amend a joint return and turn it into two separate returns once the filing due date (without extensions) has passed.

Advantages of filing jointly as a married couple

One of the biggest benefits of filing Married Filing Jointly is your ability to lower your combined taxes. Your standard deduction might also be higher, and you may qualify for other tax credits and deductions that are not available when married filing separately.

When you and your spouse use the Married Filing Jointly filing status, you report your combined income and deduct your combined allowable expenses. You can file a joint return even if one of you had no income or deductions for the tax year. You are both responsible for all income and deductions on the tax return, even if only one spouse earned all the income.

Married Filing Jointly requirements

You may claim the file status of Married Filing Jointly if:

• You are married as of midnight December 31, of the applicable tax year, and
• You and your spouse agree to file and sign a joint tax return.

As always, you’ll want to work with a local tax professional to discuss your personal situation and what may be best for you and your spouse, as well as your family.

Married Filing Jointly vs. Married Filing Separately

Taxpayers who choose to file as Married Filing Separately instead of Married Filing Jointly may benefit if it results in less tax owed than if they file a joint tax return. You can also use this status if you and your spouse want to be responsible only for your own income tax. The IRS suggests that taxpayers prepare their taxes both ways to see which filing status is better for them before officially filing their return.

If you and your spouse don’t file jointly, you still must file your income taxes and file as Married Filing Separately; unless you qualify for Head of Household status. You cannot file as Single.

It’s important to note that taxpayers from community property states have special rules concerning the division of marital income. If you live in one of these states, filing separate returns may not be as easy and straight forward.

Married Filing Separately means each person claims their own income and deductions on their own separate tax returns. Married Filing Separately means only the individual on the tax return is responsible for any tax bills and errors on the return. This filing status has the highest taxes, least allowed credits and deductions, and can make more of the income taxable in many circumstances, such as Social Security benefits.

If you file as Married Filing Separately the standard deduction is zero for one spouse when the other itemizes their deductions. Taxpayers who file separately can later amend to file a joint return for up to three years past the due date of the tax return. However, if you file your return as Married Filing Jointly, you cannot then change to Married Filing Separately.

What Is the standard deduction for married filing jointly?

As mentioned above, the standard deduction you’d be eligible for depends on your filing status. The Married Filing Jointly standard deduction in 2023 is $27,700.

Below are the standard deductions for 2023.

You’d want to discuss your best options with your Tax Pro, based on your specific situation. We’re here for you to answer all your filing status questions and more. Find a neighborhood Tax Pro near you today. You never have to tax alone.

About the Author

Mark Steber is Senior Vice President and Chief Tax Information Officer for Jackson Hewitt. With over 30 years of experience, he oversees tax service delivery, quality assurance and tax law adherence. Mark is Jackson Hewitt’s national spokesperson and liaison to the Internal Revenue Service and other government authorities. He is a Certified Public Accountant (CPA), holds registrations in Alabama and Georgia, and is an expert on consumer income taxes including electronic tax and tax data protection.

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