Post details: California --Personal Income Tax: FTB Releases Draft of Publication Providing Tax Information for Registered Domestic Partners

09/18/07

Permalink 12:17:06 pm, Categories: News, 206 words   English (US)

California --Personal Income Tax: FTB Releases Draft of Publication Providing Tax Information for Registered Domestic Partners

CCH (cch.taxgroup.com) reports:

The California Franchise Tax Board (FTB) has released a draft of a publication that addresses the tax issues faced and adjustments that will be required by registered domestic partners (RDPs) who file California personal income tax returns. Beginning with the 2007 tax returns filed in 2008, registered domestic partners will be required to file their tax return using a married/RDP filling jointly or married/RDP filing separately filing status.
The publication provides general information concerning registered domestic partnerships and the application of community property laws. Specific issues concerning the filing status adjustments that are required for RDPs that claim specified deductions and exclusions are also addressed. Examples of these adjustments include, but are not limited to, capital losses, transactions between RDPs, sale of a residence, investment interest, and expense depreciation property limits.
The FTB is seeking comments concerning this draft publication. Persons who have comments or suggestions concerning additional topics that should be addressed should submit the comments to RDP@ftb.ca.gov. A copy of the draft publication is available on the FTB's Web site (http://www.ftb.ca.gov/forms/drafts/07_drafts/07_737draft.pdf).
Alternatively, subscribers to CCH Tax Research NetWork can view the publication by using the link below.

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