My boyfriend and I are both EM physicians grossing about 150K per year. We live together and share expenses and share our bank account. For filing taxes, would it be better to file jointly or separately? If it is better to file joint taxes, is there a way without getting married? If filing separately, then how do we separate our mutual funds and other investments if bought together?

J. Timm, MD

Zip Code: timmj@mac.com

Hi. You cannot file jointly or separately unless you are legally married. You both have to file as single.

With respect to your investment income, the easiest way would be to split them evenly. The gross amount should be reported on the return of the person whose ss# shows on the 1099 at year end. Then half the amount should be backed out and reported as "as nominee for ss#..." Then pick up half the amount on the other person's tax return.

Please let me know if I can help in any way.

Zip Code: harryrwiglercpa@aol.com