Joint return

A joint return is a tax return in which the income and deductions of a reporting married couple are combined. This return can only be filed if the couple is legally married as of the last day of the tax year. There is generally some tax benefit to filing a joint return, with the Internal Revenue Service allowing higher deductions and tax benefits than are available to the filers of other types of tax returns. Married couples can instead choose to file two separate tax returns.

Related Courses

Family Tax Planning