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What are the tax implications of being married & filing seperately? How will this affect my kids college aid?


I seperated with my husband in May because of his drug abuse and violence, with some cheating thrown in. Tax time is coming up. I have 2 children (20 and 22) attending full time college. They are my children, not his. Would filing married but seperately adversely affect my aticipated tax refund? How would this affect doing the FASFA's for student aid since I would need his financial info to complete them? We are not reconciling and I dont anticipate him cooperating with me on these issues. I know there are really 2 questions, but they are related

I'm sure there are lots of tax implications. It sounds like you need to see a professional tax advisor. Good Luck.

(Thanks for your answer to my question. Had you read my profile? - as you put that bit about life being a journey. I just get so frustrated, and if I chat to too many women I might get too flippant and I get a reputation (too desperate), and what if it never happens?)

If you file married and seperate, you will pay more in taxes and get less back. File married joint and carry the husband as a dependent.

Married filing separately has all kinds of ramifications, all of them bad. If you are legally separated, you should be able to file as single.

However, if you have custody of your children, you should be able to file Unmarried head of household which gives you a lot of benefits. (This is true even if you are not legally separated). Depending on your income, you may also qualify for an earned income credit.

You need to speak with a tax expert or a lawyer asap.

As far as financial aid for students, I believe only the custodial parent's income is used to calculate need. When you get the forms, read them carefully, they will tell you what to do. A student financial aid counselor should be able to help you with these questions. Good luck.

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