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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Suma who wrote (215792)	1/23/2005 7:24:45 PM
From: RetiredNow	Respond to of 1574097

Nope, Suma, it's not. Let me give you a scenario. Gay couple purchases house for $100K. 10 years later, they sell for $1.1M, for a gain of $1M. On their tax returns, they each claim a gain of $500K, less the $250K exemption, which means they'd pay taxes on $250K each. $250K times 2 = $500K. Combined they'd pay taxes on $500K, which is the same thing as if they had a combined $500K exemption, just like married couple. No tax difference. Now, if one of them dies prior to the sale, the house passes cleanly to the Survivor, as stipulated by the WROS contract. Then if they sold, they'd only get a $250K exemption, just like the surviving spouse of a hetero couple. Both cases end up being the same tax treatment, but a little different paperwork.