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  1. #1
    Join Date
    Apr 2005
    Location
    Sacramento,ca
    Posts
    21

    Default Inheritance and Tax paying logistics

    I'm married and live in a community property state. We are filing taxes as married. We also have his mine and ours accounts but technically they are considered "community property".

    I have separate property I aquired though an inheritance.
    I would like to pay my share of the taxes by borrowing it fom my separate propertyaccount and moving it through the checking account that's in my name. All would be documented.

    I have two questions.

    Can I pay this back to my separate account or would that be considered commingling? I would pay only the amount I withdrew. No more.

    In the future can I pay taxes on separate property with community property funds? Would that change the character of sperate property to community property?

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default California Community Property

    If the amount of property you have inherited is of sufficient value to make this a concern, you would be well-served to discuss this matter with a California estate planning attorney. It may be, for example, best to hold the property in trust.

  3. #3
    Join Date
    Apr 2005
    Location
    Sacramento,ca
    Posts
    21

    Default

    Thanks. That was actually my other question. I couldn't figure out what kind of attorney I should contact.

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