Dear Kim,
My husband passed this past year. While there is still healing to be done, it wasn’t unexpected. He’s in a better place now and I’m grateful he’s no longer hurting.
All that to say, this is the first tax season where I have been on my own in almost 45 years. I’ve been privy to our finances over the years and present in the past as my husband filed our taxes, but I’m at a loss when it comes to doing it alone for the first time.
What are some resources I can turn to? What questions should I even be asking?
Sincerely,
Feeling Helpless Filing Taxes
Dear Helpless,
I understand how scary it is to do things on your own when you’ve been a team for so many years. You are right to ask for help, and I would first ask if you’ve been using a CPA to file your taxes for you. If so, that is where I would begin.
If your husband did the taxes, you might want to seek help from a CPA this year to ensure you don’t miss anything. I am not a tax professional, so my advice doesn’t carry the weight of a CPA. Last year’s taxes will give you an idea of what documents to look for; you can compare the documents from last year to this year to make sure you have everything. If anything is missing, you can reach out to that institution for a replacement document. Also, if anything new was added this past year to your financial world, make sure you have the documents to support it.
The most important thing is to have documentation to support deductions such as mortgage interest, charitable contributions, and medical expenses. The standard deduction is a good one, but you may have enough deductions to long file. Again, you can check last year’s tax documents to see how they were filed.
Since your husband passed last year, you will be able to file a joint return. This will help with the standard deduction, as well as a higher income limit per tax bracket. Next year, you will need to file as a single person, unless you have dependents you are caring for; if so, you may be able to file as head of household.
I hope this gives you a starting point. Best of luck as you begin this journey.
Kim
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