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Submitted By: Richard
Answered: June 10, 2014 8:30 am
Answered: June 10, 2014 8:30 am
Will filing separately as a married person impede my ability to take low-income housing credits?
Married persons who file separately are barred from claiming certain tax credits, such as the adoption credit or education credits. However, there is no such bar for the low-income housing credit.
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Tax Glossary
Qualified plan
A retirement plan that meets tax law tests and allows for tax deferment and tax-free accumulation of income until benefits are withdrawn. Pension, profit-sharing, stock bonus, employee stock ownership, and Keogh plans and IRAs may be qualified plans.
