How does the Supreme Courts decision in In re Marriage Cases impact the tax effect of sales of CA real property?
SSMCs who sell or transfer jointly owned California real property that will be reported on their 2008 or later tax return are spouses for purposes of completing California Form 593, Real Estate Withholding Tax Statement. Therefore, real estate escrow persons may complete and provide SSMCs with a combined Form 593 listing both spouses for the completed real estate transaction.
