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When married couples have joint investment accounts but choose to file taxes separately, it can complicate the reporting of investment income and gains. Each spouse may need to accurately report their share of the income and gains from the joint accounts on their individual tax returns. This can impact their tax liabilities and deductions, potentially leading to higher taxes or missed tax benefits. It's important for couples to carefully consider the implications and seek advice from a tax professional to ensure accurate and compliant tax filing.

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5mo ago

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