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Married Filing Separately - Family Size Repayment Estimator?

Started by ticktalk, March 24, 2018, 11:27:57 am

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ticktalk

I am trying to determine if married filing separately would be beneficial. When using the studentloans.gov repayment estimator I'm not sure what to put for the number of dependent children. We have 4 children, so do I list 4 dependent children under my information? If so, when I go back and run the numbers for him do I also list 4 children, or do we have to split the number of children between us? Hopefully this makes sense.

The site lists this for it's definition of dependent children: "How many children, including unborn children, are in your family and receive more than half of their support from you?"

TheCollegeInvestor

That's a tax question more than a student loan question, but if you file married filing separate, it would really be who's income provides for more than half the support. However, talk to an accountant.

Read this as well: https://thecollegeinvestor.com/17807/the-math-behind-married-filing-separately-for-ibr-or-paye/