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Author: damastr One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: Captial Gains for State Return Date: 3/13/2006 2:18 PM
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wtam wrote:

also, *big* point: when he says where the income is sourced is not just a matter of "we did the transactions through my wife's account'. if you put money into her brokerage account, in her name alone, and made a huge gain, when push comes to shove if a CA auditor wants some of that all he has to do is show some of your CA sourced wage $ went into her account (say, via check). Tax authorities are very adept at looking past 'technicality' to get at the economic basis or spirit of the transaction.

I write:
Now THAT does answer my question.

Bob78164 wrote


No. But it may boil down to the not-so-mere technicality of the original source of the funds in the account. If that source was separate property, it gets one treatment. If it was community property, it gets another. --Bob

I write:
And so does this.

So here's my next question. Since it's very difficult to accurately identify the source, can I divide the capital gains in the same ratio as our incomes? Will that be reasonable? Or should I just go ahead and include all of the gains as my income in CA return (it will be safest way, but definitely will not save me anything that I may be entitled to)?
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