What is the name of your state? California.
My partner and I registered our domestic partnership with the Secretary of California on September 10, 2018.
I sold a house on August 20, 2018 titled as a single man and I have been single up until registering. With the proceeds of the sale, my partner and I bought another house on October 1, 2018, using the proceeds from the sale of my other property ($500,000), and a small mortgage. The new house is titled as community property as domestic partners with right of survivorship. Both houses are located in California.
Now I get around to doing my taxes. I find that half of the downpayment for the new home is considered a gift to my partner according to the IRS, since we must file as single people. I am trying to get a sense of my options to not have to file a gift tax claim, if there are any.
My partner and I registered our domestic partnership with the Secretary of California on September 10, 2018.
I sold a house on August 20, 2018 titled as a single man and I have been single up until registering. With the proceeds of the sale, my partner and I bought another house on October 1, 2018, using the proceeds from the sale of my other property ($500,000), and a small mortgage. The new house is titled as community property as domestic partners with right of survivorship. Both houses are located in California.
Now I get around to doing my taxes. I find that half of the downpayment for the new home is considered a gift to my partner according to the IRS, since we must file as single people. I am trying to get a sense of my options to not have to file a gift tax claim, if there are any.
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