Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
S
shiph2016
April 22, 2024
Question

What does the term community property mean?

  • April 22, 2024
  • 2 replies
  • 0 views
my husband and i are filing separately. we sold home in 2023 and both got half of the profit. is this considered community property?

2 replies

DawnC
DawnC
Employee
April 22, 2024

Yes.  Any income and any real or personal property acquired by either spouse during a marriage are considered community property and thus belong to both partners of the marriage.

 

Certain states have laws about community property defining how they expect MFS couples to share, or allocate, income. TurboTax has allocation screens and a worksheet to assist you in entering any adjustments your community property state may require when filing separately.

 

For more information, refer to Filing Separately in Community Property States.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification