For complicated taxes, I recommend consulting an accountant to figure out MFJ vs MFS.

Why I chose an accountant?

• My DIY tax software estimates were wildly inaccurate because I don't know enough to decipher implications of multiple tax codes and efficiently run multiple scenarios.
• I wouldn't have known my estimates were incorrect without consulting an accountant.
• Free consult took less than 15 minutes because of accountant expertise and professional tax software.
• While I may have been able to DIY filing after the free consult...
  • I would have to spend hours finding a free tax software, or purchase tax software or spend hours finding a free version.
  • Figuring out the tax codes and different options would take hours/days.
  • For me, peace of mind is worth spending $300 for an accountant to correctly file two returns.

Student Loan Info:

• Federal Consolidation: $70k
• Family size: 6
• MFJ:
  • Income ~104k
  • IDR payment ~$480
  • Total if payments start in July ~$2800
• MFS:
  • Income ~$52k each
  • IDR payment= zero

Tax Info:

• Community Property State
  • Income = spouse + spouse / 2. Example: 64k+40K / 2 = 52k.
• Multiple dependents.
• ACA subsidy for a few months due to layoff.
  • ACA subsidy requires partial repayment if MFS 2025 and earlier.
  • ACA repayment cap $750 or $1600 depending on income % federal poverty level.
  • ACA subsidy requires full repayment 2026+

Accountant Consult:

• MFJ:
  • ~$1900 refund.
  • $2800 student loan payments.
• MFS:

Various options of splitting the Child Tax Credit and ACA repayment when MFS resulted in huge differences.

• Worst option: Owe ~$2000.
• Best option: Refund ~$1000.
• Zero student loan payment.

Note:

• I am NOT a tax expert.
• It may be possible to DIY complex MFS.
• My experience showed that DIY estimates can be incorrect.