What tax credits do you loose if you file married filing separate?

The tax rate for married filing separately is the highest one. It's identical to the single rate until you earn just under $70,000; at that point, filers with this status pay a higher rate than single filers. When you file separately, you can also wave goodbye to a lot of the deductions and credits that the IRS offers. You lose the Hope and Lifetime learning credits that help offset the cost of higher education, and you also forgo the opportunity to deduct qualified education loan interest. Other out-the-window benefits include the dependent care credit, the adoption expense credit, and the deduction of savings bond interest that you might have used toward higher education.