Quote:
Originally posted by Sidd Finch
But the 20k earner filing joint will pay at the highest marginal tax rates, whereas filing single s/he will pay at the lowest. I believe that more than offsets the difference in the deductions.
But I'm not as hot as you, so I'm not certain.
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Okay, but what if one of the individuals is a US Shareholder of a CFC with over $10 million of PFIC income and the PFIC hasn't made a section 1248 election? And if the house is held in a tenancy by the entirety instead of a J/T w/r/of survivorship, can they really allocate 100% of the mortgage interest to the taxpayer who doesn't have a the total phaseout for deductions?
Man, I am a freaking tax lawyer, and you people are putting me to sleep! I guess some days it just pays to miss out.
