Same-sex spouses recently won the right to file their federal
tax returns under the married filing status. Those who live in
states that recognize their marriages will
to file as married taxpayers in 2013, but they have the right to
choose whether to amend returns for past years.
In the following video, Dan Caplinger, The Motley Fool's
director of investment planning, talks about whether amending
past-year returns is a good move. Dan notes that same-sex spouses
will be able to amend up to three years back, for the 2010, 2011,
and 2012 tax years. But Dan notes that the true benefit of the
provision is that it's optional, so you can run the numbers both
ways and see whether you'll benefit from amending or not. Dan
gives some general rules, noting that one-income families often
benefit from the married joint filing status, while those who
have roughly equal incomes might suffer a marriage penalty that
makes it advantageous
to amend. Either way, Dan concludes that it's smart to check it
both ways to be sure you get the best answer for your
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