Will there be a huge impact on my husband’s and my taxes this year if we are getting divorced?

by Mark B. Zinman, CPA | Nov 29, 2018

I’m going through a divorce, and my husband and I have two children and just sold our home. Will there be a huge impact on our taxes this year filing as single?

Generally, depending on the income that each of you earn, it is possible that the taxes for filing single may be less than as married filing jointly. Some of this may depend on with whom the children live and how you have divided up their exemptions. Additionally, if a dependent child lives with you, your filing status would not be single, but rather would be head of household. Head of household filers pay less than people filing single at the same income level. 

In short, it depends on the variables stated above, and I strongly encourage you to consult a CPA to help you determine your specific tax implications.

For more resources, check out PICPA’s Money & Life Tips, Ask a CPA, or CPA Locator.

Answered by: Mark B. Zinman, CPA, is a managing partner with Zinman & Company in Southampton, Pa.

The responses are based on the limited information provided by the questioner and apply the laws and regulations at the time of posting. Other options could arise as rules and regulations may change over time, including but not limited to the passage of the Tax Cuts and Jobs Act of 2017. They are intended to provide general information, not specific accounting or tax advice; they are not intended or written to be used and cannot be used for the purpose of avoiding or evading taxes or penalties under the IRS code or regulations. Views expressed do not imply an opinion of the PICPA, its officers, directors, employees, or members.
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