Taxes & Divorce brynne: Just when when I thought I'd never have to think about my X...I find out b/c our divorce was final Dec. 15 I have to file as single for last year BUT I had married deductions coming out so that will mean I'm probably going to OWE money ! And that sucks, b/c I got the house but the mortgage was in his name so legally he gets to take the interest deduction on HIS taxes. To add insult to injury...last year my X kept our very large tax return & put it in HIS savings acct (& I never saw that money b/c my name wasn't on the acct).
I'm already struggling financially b/c of the divorce & getting the house. This just makes matters WORSE ! My friend is moving in late May to be my roommate so that will help w/ overhead expenses at least.
Hope
Re:Taxes & Divorce faegonsgold: Hope--
I know how you feel on this issue. Our divorce was supposed to have been finalized Dec. 24. 2003. However, my ex decided to drag it out until Feb. 24, 2004. So, because he did this, I had to file "married filing separately" and in doing so I lost my education tax credits which meant I had to end up owing a huge amount of money. I now owe the IRS $800 ( that I don't have mind you not). But, I am going to go have a second opinion later this week. I did some researching this weekend and I figured up that I had a loss that I didn't claim. So we'll see what happens. When I left my accountant's office that day, I was very discouraged because this just added to the pile of bills that I already have and can't pay. Grr.... >:( So while some of us (the ex) gets a free ride because his parents pay for everything, the rest of us (me) have to go out and get a second job and virtually have no life. BUT, at least I can say that I supported myself and am getting myself out of this debt without my mommy & daddy's help...lol. Ok enough of my ranting.
As my four year old niece told me the other day and gave me a wake-up call--"God will take care of us"
Keep your chin up! ;)
Re:Taxes & Divorce picadilly: So let me get this straight. In the States you can't file as "Seperated"? You have to file as "married but filing seperately"? wow, sucks.
Re:Taxes & Divorce faegonsgold: This is what my accountant told me:
He said that if we had a legal separation decree last year, I could have filed "single" or if our divorce had been finalized by Dec 31, I could have filed "single." But since none of those instances happened, I was either stuck filing "married filing jointly" or "married filing separately". Since the ex has no contact with me and i with him, and i don't know if he's even filed or not, I had to file "married filing separately."
It was not a pretty day thursday by no means. grr....so yes it does suck.
Re:Taxes & Divorce brynne: Yep, it's like our government penalizes you for divorcing ! My acct told me I should have waited until the first of the year to finalize the divorce...who wants to postpone their divorce ?? I mean it was bad enough it took 2 1/2 months & I wanted to be single in 2004 & start over fresh. But I didn't think about the tax consequences !! At least I'm the sole owner of the house so next year I will reap ALL the tax benefits of home ownership & get to do whatever I want to w/ my tax return !!
Apparently b/c I had "married" deductions coming out all year but I'm filing single now b/c I was single at the end of 2003, probably not enough taxes were taken out thru the year, so I'll find out this week :(
That sucks that you cannot take your education tax credit. Us divorcee's should get tax breaks...heck we've been thru enough !
Hope
Click More for the next page.
