This is such a comprehensive thread with great advice! I wanted to add one more perspective as someone who went through this exact process recently in Oregon. One thing I didn't see mentioned is that when you're combining two MFS returns into one MFJ amendment, pay special attention to any state tax payments you made with your original returns. Oregon allows you to claim credit for estimated payments and extension payments from both of your original returns, but you need to make sure you're not double-counting anything. Also, since Oregon has its own Earned Income Credit and other state-specific credits, running the amendment calculation can sometimes reveal additional state-level savings beyond just the federal benefits. In my case, we qualified for Oregon's Working Family Child Care Credit on our joint return that we couldn't claim filing separately due to income limits. The key thing is being methodical - I created a checklist of every line item from both original returns and worked through them systematically when preparing the 1040-X. It took me about 3 hours to do it carefully, but we ended up saving $1,800 between federal and state, so definitely worth the time investment. One last tip: if you do use any of the online tools mentioned earlier in this thread, double-check their work manually for at least the major items (income, major deductions, credits). Technology is helpful but nothing beats understanding the numbers yourself when dealing with amendments.

As someone who recently went through this exact process (MFS to MFJ amendment), I can confirm it's definitely doable and often worth it! The timing difference between your filings won't be an issue at all. One thing I'd add to all the great advice here is to be extra careful about any Health Savings Account (HSA) contributions when combining your returns. If either of you contributed to an HSA while filing separately, you'll need to make sure your combined contribution doesn't exceed the family limit when filing jointly. The limits change from individual ($3,850 for 2023) to family ($7,750 for 2023) coverage, so depending on your situations, you might actually be able to contribute more, or you might have over-contributed and need to address that. Also, since you mentioned one return was filed with an extension, make sure to account for any penalty calculations if there were underpayments. Sometimes the joint filing can help reduce or eliminate underpayment penalties if your combined withholdings and estimated payments cover the joint liability better than they covered your separate liabilities. The process itself is straightforward once you have all the information organized. I'd recommend creating a simple comparison chart showing your separate returns side by side, then the combined joint figures. This makes it much easier to spot any errors and helps when filling out the 1040-X. Oregon's amendment process is pretty smooth - just remember you'll need to file Form 40X along with your federal 1040-X. Good luck!

@Alfredo, based on your situation with $380K in S-Corp income, you'll definitely want to get this right! The K-1 will be issued to the QSST with the trust's EIN, but your son will report all the income on his personal return and pay the taxes. One thing I don't see mentioned yet - with that income level, your son may need to pay estimated taxes quarterly since there's no withholding from S-Corp distributions. The trust will still file Form 1041 but it's essentially just an informational return showing the pass-through to your son. Also, make sure your QSST election was filed properly with the IRS within the required timeframe (usually 2 months and 15 days after the stock transfer). If you missed that deadline, you could lose S-Corp status entirely. Your accountant should have handled this, but it's worth double-checking since the consequences are severe.

This is exactly the type of situation where getting professional guidance upfront can save you thousands in penalties and corrections later. With $380K in S-Corp income, the tax implications are significant. A few additional considerations for your QSST setup: 1. **Timing of the QSST election**: Make sure this was filed within 2 months and 15 days of the stock transfer. Missing this deadline can terminate your S-Corp election entirely. 2. **State tax implications**: Some states don't recognize QSSTs the same way the federal government does, so you may need separate state filings or elections. 3. **Future planning**: Consider whether your son will have other income sources that might push him into higher tax brackets when combined with the S-Corp pass-through income. 4. **Documentation**: Keep detailed records of all distributions vs. income allocations, as the IRS scrutinizes QSST arrangements more closely than regular S-Corp ownership. Given the complexity and the income level involved, I'd strongly recommend having your accountant walk you through the entire process again and provide written documentation of the reporting requirements. The interaction between S-Corp taxation and QSST rules has several nuances that can create compliance issues if not handled properly.

One major tip I learned the hard way - don't just check the box in Step 2(c) on all your W4 forms! I did this with my 3 jobs and ended up having WAY too much withheld. That box basically tells each employer to withhold as if that job's income was your only income but at a higher single rate. The multiple jobs worksheet is much better but still not perfect. Personally, I'd recommend using the IRS tax withholding estimator online and updating your W4s quarterly if your income fluctuates.

This is such a common problem with multiple jobs! I went through something similar last year with 3 jobs. Here's what I learned that might help: First, you're absolutely right that the new W4 is way more complicated than the old allowance system, but it's actually more accurate once you figure it out. For your situation with 4 jobs where 2 weren't withholding anything, you definitely need to update ALL of them. My recommendation would be to start with the IRS Tax Withholding Estimator (it's free on the IRS website). It's specifically designed for multiple job situations and will give you exact instructions for each W4. You'll input all 4 jobs' expected income, and it calculates how much should be withheld from each. One thing to watch out for - if your jobs have very different pay rates, the calculator might suggest putting most of the extra withholding on your highest-paying job rather than spreading it equally. This actually works better for cash flow. Also, don't stress too much about getting it perfect right away. You can always adjust your W4s again if needed after a few paychecks. The key is getting something reasonable in place so you're not hit with another big tax bill next year!

Has anyone tried using the IRS Tax Withholding Estimator? It helped me figure out my withholding issues last year.

This is a really common issue for tipped employees, and you're smart to be thinking ahead about potential tax liability. The inconsistent withholding happens because your paycheck amount varies so much with tips - when tips are high, there's often not enough in your actual hourly wages to cover all the required withholdings. One thing that might help is talking to your payroll person about adjusting your W-4 to have an additional flat amount withheld each pay period, regardless of your tip income. You could also consider opening a separate savings account specifically for taxes and automatically transferring a percentage of your weekly earnings there. Keep detailed records of all your tip income too - you'll need accurate numbers for tax filing, and it'll help you calculate how much you should be setting aside. Generally, putting away 20-25% of your total income (wages + tips) for taxes is a safe bet for most servers.

Theres another aspect nobody mentioned - if your LLC is treated as an S-Corp for tax purposes (which many are), then completely different rules apply for redemptions! In that case, you're looking at stock redemption rules under sections 302 and 301 instead of partnership rules.

This is a really complex area that trips up a lot of people! One thing I want to emphasize that hasn't been fully covered - the timing of when you make a Section 754 election is crucial for redemptions. If your LLC doesn't have a 754 election in place at the time of the redemption, you generally can't get the step-up in inside basis that would benefit the remaining partners. The election has to be made by the due date of the return for the year the redemption occurs (including extensions). Without the 754 election, you end up in a situation where the redeemed partner's share of inside basis essentially disappears along with their outside basis, which can create some weird economic distortions for the continuing partners. They might be stuck with lower depreciation deductions than they should have based on what they effectively "paid" for the redeemed partner's share of assets. Also, make sure you're considering whether any of the redemption payments might be characterized as payments for unrealized receivables or goodwill under 736(a) - those get treated as guaranteed payments or distributive shares rather than distributions, which completely changes the tax treatment for the departing partner.