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Determine whether Bonnie and Jake should file jointly

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Problem - Bonnie and Jake (ages 35 and 36, respectively) are married with no dependents and live in Montana (not a community property state). Because Jake has large medical expenses, they seek your advice about filing separately to save taxes. Their income and expenses for 2019 are as follows:

Bonnie's salary $ 42,500

Jake's salary 26,000

Interest income (joint) 1,500

Rental loss from actively managed rental property (23,000)

Jake's unreimbursed medical expenses 8,500

All other itemized deductions:

Bonnie 19,000

Jake 6,400

Required - Determine whether Bonnie and Jake should file jointly or separately for 2019.

Reference no: EM132668443

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