CPWROSCommunity Property With Right of Survivorship (taxation)
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References in periodicals archive ?
CPWROS and JTWROS may share a survivorship feature, but CPRWOS lacks a clear argument for estate includibility, so the allowable basis adjustment--if any--is dubious.
Good as the concept may have sounded to California legislators, CPWROS titling appears to have created a degree of unanticipated tax risk.
For couples whose principal residence is below the $500,000 capital gain exclusion, or in situations where basis is not an issue, this potential downside to CPWROS evaporates.