Section 115.5. Joint declaration of husband and wife

(a) A husband and wife may make a joint declaration of estimated tax as if they were one taxpayer, even though one spouse is expected to have no income during the taxable year. A joint declaration shall show the social security number and full name of each spouse.

(b) If a husband and wife make a joint declaration, their liability with respect to the estimated tax shall be joint and several.

(c) The fact that a joint declaration of estimated income tax is made by a husband and wife shall not preclude them from filing separate final returns. In case a joint declaration is made but a joint return is not filed for the same taxable year, the estimated income tax payments for such year may be treated as payments on account of the tax liability of either the husband or wife for the taxable year or may be divided between them in such manner as they may agree.

(d) A spouse shall not offset a gain in one class of income with a loss of income of the other spouse in another class of income. A spouse shall not offset a gain in the same class of income with a loss of income of the other spouse in the same class of income.