Submitted By: Richard
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

Trust

An arrangement under which one person transfers legal ownership of assets to another person or corporation (the trustee) for the benefit of one or more third persons (beneficiaries).

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