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Married Filing Separately
(redirected from Separate Tax Return)

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Married Filing Separately
A filing status in which a married couple files individual tax returns instead of a single return. When two spouses file separately, each is taxed like a single individual. This usually results in a higher combined tax liability, but it may be advantageous if one spouse has significantly higher expenses or deductions.

Married Filing Separately
A filing status that can be used by married taxpayers who choose to record their respective incomes, deductions, and credits on separate individual tax returns.


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election of officers, annual board meetings, filing of separate tax returns, etc.
Even though any separate tax return should be filed for the UTMA assets, the custodian will have to keep records so that tax returns could be filed on behalf of the child.
She kept all her assets in her name and filed a separate tax return.
 
 
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