Personal Insights

Should married couples file taxes jointly or separately?

Tax planning for couples can add complexity to an already complicated process.

There are many decisions that were once made individually that take on greater complexities for married couples.

“Deciding whether to file taxes jointly or separately is an important decision that can significantly impact a couple’s tax liability and overall financial picture,” says Tom Lasley, Private Wealth Strategist at Regions Bank in Nashville, Tennessee.

Filing jointly often means higher income thresholds for tax brackets, eligibility for certain credits and deductions, and potentially a lower tax bill overall. On the flip side, filing separately can be beneficial under certain circumstances. Evaluating both options requires consideration of individual financial circumstances, and couples should consider engaging a tax professional to help with this analysis.

Tax considerations: Let’s assume that filing jointly is preferred

For most couples, filing jointly may be the most advantageous approach. “The majority of couples often benefit more by filing married jointly,” says Lasley.

For one, it’s just simpler to file one return rather than two. Further, if the spouses plan on claiming the standard deduction, rather than itemizing deductions, as allowed by the Internal Revenue Code (IRC), to decrease the taxable income without itemizing specific deductions, there is no financial incentive for filing separately. The standard deduction in 2026 for married couples filing jointly is $32,200, which is exactly two times the standard deduction for those who file married filing separately, which is $16,100.

As a married couple filing jointly, you may be eligible to claim tax deductions that are not available to spouses filing individual returns. For example, joint filers can seek tax credits not available to couples filing separately, including the Earned Income Tax Credit, the Child and Dependent Care Tax Credit and the American Opportunity and Lifetime Learning Education Tax Credits.

“There are generally fewer tax benefits to filing separately,” notes Lasley. “That includes being limited to a smaller IRA contribution deduction, lower income limits for those covered by qualified plans who also make potentially deductible contributions to IRAs, the loss of eligibility to take a deduction for student loan interest and the capital loss deduction limit, which is limited to $1,500 for those married filing separately versus $3,000 when it’s a married joint tax return,” says Lasley.

Tax considerations for couples: The case for filing separately

There are circumstances when it can be financially advantageous for married couples to file separately. This is often the case if you’re planning to itemize deductions rather than claim the standard deduction and one spouse has significant itemized deductions, one spouse has outstanding tax liabilities, or there are deductions limited by income.

Keep in mind that married couples filing separately both must file using the same method. In other words, if one spouse itemizes their deductions, the other spouse must as well, even if they aren’t submitting a joint tax return.

Tax considerations for couples #1: IRS debt

One frequent reason comes when one spouse enters marriage carrying a debt owed to the IRS. If you are married and decide to file jointly, that means the spouse who didn’t owe the IRS will instantly take on that liability - a debt they may prefer not to assume. For couples about to get married, transparency into existing debts establishes a strong foundation for financial communication throughout the marriage.

Tax considerations for couples #2: High medical expenses

Reason number two to consider filing separately is the scenario when one spouse has high medical expenses. The IRS allows for the deduction of medical and dental expenses if they exceed 7.5% of your adjusted gross income. If one spouse has a relatively low income and high medical expenses, it may make sense to file separately. “By Filing separately, a spouse may benefit by claiming the medical expenses against just their income versus filing jointly and losing eligibility to claim the expenses due to exceeding the threshold of a higher joint income,” says Lasley.

Tax considerations for couples #3: Student loans

A third reason to consider filing separate returns is to improve management of student loan repayment obligations. Some student loan repayments are based on income. For those couples who want to keep those monthly debt repayments as low as possible, filing separately may help.

Tax considerations for couples #4: Personal preference

Some couples also see value in keeping their finances separate.

It’s not a matter of anticipating a demise of the relationship, but about maintaining independence and flexibility around spending, saving, and investing while working together to reach shared financial goals. When that is the objective, filing separately is a potentially attractive option.

Two things to do

1. Review our comprehensive tax checklist to ensure you are prepared for filing.
2. Learn how to make discussions about finances easier with these tips for planning a money-talk date night.