Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: HappenedInCali

Joint ownership.


487 posted on 05/16/2008 8:22:03 AM PDT by okie01 (THE MAINSTREAM MEDIA: Ignorance on Parade)
[ Post Reply | Private Reply | To 447 | View Replies ]


To: okie01
Joint ownership.

I'm not quite sure I understand your answer. If you're not married, you have to pay taxes on the transfer of property (I believe it's 11K a year taxfree and 650K lifetime or something like that). If you are married, you can transfer unlimited amounts of property between spouses. Also, when a spouse dies, the surviving spouse inherits everything tax-free.

This is not an issue of gay marriage per se because unmarried straight couples face the same tax issues. They do have a remedy available though, getting married :)

As far as I know with joint ownership you do not get the tax benefits. Again, this affects couples of any kind, not necessarily gay ones.

525 posted on 05/16/2008 12:20:52 PM PDT by HappenedInCali
[ Post Reply | Private Reply | To 487 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson