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MFJ-MFS analysis in ProSeries?

MikeB_CPA
Level 4

Has anyone found a quick and reliable tool in ProSeries to determine whether MFJ or MFS is optimal, and how to split the returns with minimal additional work?  I use the T, S, J coding on every entry I make.  When I use the MFJ vs MFS worksheet, the information it provides frequently turns out to be incorrect or inaccurate when I actually split the returns and do all the re-work of the separate returns.  Any suggestions?  The additional required analysis can be a significant time burner.  Thank you!

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TAXOH
Level 11
Level 11

I use the MFS MFJ worksheet and split the returns.  Mine usually match when I split it unless AMT or a few other oddball things are in the return. Probably about 90% of mine will match.  What is something you are having to rework?

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TAXOH
Level 11
Level 11

I use the MFS MFJ worksheet and split the returns.  Mine usually match when I split it unless AMT or a few other oddball things are in the return. Probably about 90% of mine will match.  What is something you are having to rework?

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MikeB_CPA
Level 4
Things as simple as the address or local state jurisdictions sometimes do not correctly transfer to the MFS, and some itemized deduction amounts require scrutiny.  Supporting statements, due diligence worksheets, waiver explanations, etc., have also not transferred for me.  Thanks for your input.  Much appreciated.
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Marc-TaxMan
Level 8
This is nothing new.  Same for years.  Always needs re-work to split correctly
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ramledray
Level 2

I just split at return from a MFJ to MFS and the ROTH IRA contribution of one spouse changes the outcome.

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Just-Lisa-Now-
Level 15
Level 15

If you've used the TSJ indicators you can split the MFJ into 2 MFS returns and review them separately.  

Using ProSeries Professional, from within the client file, top menu bar File > Split MFJ to MFS

Im not sure if this feature is available in Basic.

That's the only features that are available for splitting the return up.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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MikeB_CPA
Level 4
Thanks.  I have been doing all of the things you recommended, but there seems to be a considerable amount of re-work required with the separate returns to be sure everything transferred from the joint return.  I think it is what it is with the program, so I will just keep doing it the way I have been.  Thanks again.
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samtsakalas_24
Level 1

Do I need to "Save As" the file or just use the MFJ v MFS button while in the file?

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