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    Community property state gift

    A family lives in a community property state. The father owns a property which is only under his name and without the wife's name in it. The property was a gift to him by someone else after they have married though. Now he gifts the property to his son. But since they are in a community property state, does that mean the property is regarded as jointly owned by both the father and the mother even though it is only under the father's name? If that's the case, both the father and mother have to file a gift tax return for 50% of the property. Is it right?
    Last edited by Questionguy101; 04-16-2007, 01:55 AM.

    #2
    Originally posted by Questionguy101 View Post
    A family lives in a community property state. The father owns a property which is only under his name and without the wife's name in it. The property was a gift to him by someone else after they have married though. Now he gifts the property to his son. But since they are in a community property state, does that mean the property is regarded as jointly owned by both the father and the mother even though it is only under the father's name? If that's the case, both the father and mother have to file a gift tax return for 50% of the property. Is it right?
    It was only community property if it was titled as community property. Regardless of it's location in a community property state.

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