1 Day
Source:
Los Angeles Times
Domestic partnerships and capital gains taxes
The article primarily discusses the tax implications for California registered domestic partners selling a long-owned home that has appreciated significantly. It explains that California offers a double step-up in basis for such partners, but at the federal level, registered domestic partners do not receive this benefit, leading to different tax outcomes. The article highlights how federal law treats marriage differently from registered domestic partnerships and notes potential advantages of marriage regarding home sale exclusions and estate benefits.
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