Hi, I'm new here. I'm 64 and recently retired. My spouse is 40 and we keep entirely separate finances, and I don't expect that to change anytime soon. In other words I don't want to have to input anything more than I need to about his financial information, though we file married filing separately. Can Pralana accommodate this, and is there anything special I need to do to accommodate this?
@chazas Hi, this is Charlie Stone with Pralana. I am sorry to say, Pralana support Single Married Filing Jointly and Head of Household, but not Married Filing Separately. It is possible that we could add support for MFS in the future.
Even if we did, while some or all of the income items are 'per-person', many of the expenses and all the accounts, except your IRAs and inherited IRAs, are considered joint property.
Since you need to keep all income, expenses and assets separate, the best I can suggest right now is to upgrade the Family Plan which will allow you to create a plan for yourself and a separate plan for your spouse. But, currently, this would tax both plans as Single (or HH if there are dependents).
I wish I had a better answer, but I do not.
[since you are a Pralana Online subscriber, I am moving this to the Pralana Online section of the forum. But the answer is the same for PRC Excel Gold, except I am pretty sure we will not add support for Married Filing Separately to PRC Excel Gold.]
