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Data entry

Perform an MFS split

You can separate the data for a joint plan into separate taxpayer / spouse alternatives within the plan.
note
This function isn't available in a TCJA Comparison Plan, an S Corp Comparison plan, or when a plan is viewed with a single base year. If you are viewing your plan with a single base year, switch out of the single base year view by choosing
View
, then
Single Base Year
 before using the following steps.
  1. Choose
    Tools
    , then
    MFS Split
    . The
    MFS Split
     window opens.
  2. In the
    Alternative
     field, select an alternative for married filing separate analysis from the dropdown list and select
    OK
    . Two new taxpayer and spouse alternatives are created in the plan.
    Planner CS splits the data entered in data-entry fields in one of the following ways:
    • Data specific to the taxpayer or spouse is transferred to the respective alternative. For example, taxpayer wages are transferred to the taxpayer alternative.
    • Amounts in data-entry fields that are not specific to the taxpayer or spouse (for example, the
      Regular interest
       field) are transferred to the taxpayer alternative by default. However, you can double-click those fields to open a window in which you can allocate those amounts to the spouse if needed.
      note
      Community property laws in the resident state may affect how certain items of income and expense should be allocated to the taxpayer and spouse. The MFS split command in Planner CS doesn't automatically take into account the rules for a community property state. For certain items, such as interest income, you can allocate 1/2 to the taxpayer and 1/2 to the spouse in the MFJ column before you run the MFS split. For other items, such as wages, you'll need to manually adjust wage income in the taxpayer and spouse MFS columns after you run the MFS split.

This article applies to:

  • Product: Planner CS