Legal Question in Tax Law in California
Separate Property
I bought separate property (townhome) when I was
single 7 years ago. I have
been married for one year now. We are in process of
buying
house now. He is having me sign a marital property
agreement since he is putting a large chunk of his
separate money as a down payment for it. Is it best to
file separately or jointly for taxes?
Asked on 8/06/02, 8:50 pm
1 Answer from Attorneys
Ken Koenen
Koenen & Tokunaga, P.C.
Re: Separate Property
How you file has nothing to do with how you hold the property or what your agreement says. Generally, it is better to file a joint return, but that can only be actually determined by comparing both ways at the time you prepare your taxes.
Answered on 8/07/02, 12:01 pm