Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: RetiredNow who wrote (215786)	1/23/2005 4:37:20 PM
From: Suma	Read Replies (1) of 1574098

Do you know that when a property is sold that the tax break for a married couple on capital gains is $ 500.000 "The tax break on the house is simply the single rate tax break times two. Any gay couple purchasing a house with rights of survivorship would get the same exact tax break." This is not so. The one partner can have $ 250.000 but the benefit of the $ 500.000 is denied them as a couple. Do you know that when a husband or wife die the property passes to the living spouse... no tax involved. Gay couple can get the exact same tax treatment if they buy that property with rights of survivorship (WROS). Even married couple can run into tax troubles if they don't have WROS on all their property. No they don't . Actually if they own a home together the remaining partner must show that he or she put the money into the house and prove what was put in or pay tax on the entire property. Truly these two things are for real. That right or survivorship only guarantees the property will pass on to whomever the deceased person designates but the tax is different from married couples..

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