Irs Publication 555 - Community Property Page 13
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17Table 3. Worksheet — Walter and Mary Smith
Separate Returns
Joint Return
Walter’s
Mary’s
Income (Walter’s):
Salary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 65,424
$ 32,712
$ 32,712
Interest and dividends ($217 dividends + $132 interest)
349
349
– 0 –
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 65,773
$ 33,061
$ 32,712
Income (Mary’s):
Salary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 13,400
$ 6,700
$ 6,700
Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
200
– 0 –
200
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13,600
6,700
6,900
Adjusted gross income (AGI) . . . . . . . . . . . . . . . . . . . . . .
$ 79,373
$ 39,761
$ 39,612
Deductions:
Community: (Not subject to the 2% AGI limit) . . . . . . . .
$ 10,264
$ 5,132
$ 5,132
Medical:
Premiums . . . . . . . . . . . . . . . . . . . . . . . . .
$
2,050
$ 1,025
$ 1,025
Medical expenses (Walter’s) . . . . . . . . . . .
5,725
5,725
– 0 –
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 7,775
$ 6,750
$ 1,025
(Minus) 7.5% of AGI . . . . . . . . . . . . . . . . . . . . . . . . .
(5,953)
(2,982)
(2,971)
Medical expense deduction . . . . . . . . . . . . . . . . . . . .
$
1,822
$ 3,768
$
– 0 –
Total deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 12,086
$ 8,900
$ 5,132
Subtract total deductions from AGI
. . . . . . . . . . . . . . . .
$ 67,287
$ 30,861
$ 34,480
1,2
Exemptions
(Subtract to find taxable income) . . . . . . . . .
$(18,500)
$ (7,400)
$ (11,100)
1,3
Taxable Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 48,787
$ 23,461
$ 23,380
Tax
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
6,466
$ 3,096
$
3,081
1,4
Federal income tax withheld . . . . . . . . . . . . . . . . . . . . . .
$
7,708
$ 3,854
$ 3,854
Overpayment (Subtract from Federal tax withheld) . . . . . .
$
1,242
$
758
$
773
Caution: In figuring your tax, use the amounts from your current tax forms instruction booklet for such items as the standard deduction, exemption
1
allowance, and Tax Table tax.
The itemized deductions are greater than the standard deduction (shown here as $11,600 for married filing jointly and $5,800 for married filing
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separately). Note: If one spouse itemizes, the other must itemize, even if one spouse’s deductions are less than the standard deduction.
An allowance of $3,700 for each exemption claimed is subtracted — 5 on the joint return, 2 on Walter’s separate return, and 3 on Mary’s separate
3
return.
The tax on the joint return is from the column of the 2011 Tax Table for married filing jointly. The tax on Walter’s and Mary’s separate returns is from
4
the column of the 2011 Tax Table for married filing separately.
Table 3. Summary
Tax on joint return . . . . . . . . . . . . . . . .
$ 6,466
Tax on Walter’s separate return . . . . . .
$ 3,096
Tax on Mary’s separate return . . . . . . .
3,081
Total tax filing separate returns . . . . . .
$6,177
Total savings by filing separate returns
$289
Publication 555 (March 2012)
Page 13
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