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New fed tax form for RDP couples in NV, WA or CA

If you are part of a RDP (Registered Domestic Partnership) in WA, NV or CA ... or a same sex married couple in CA ... be aware that there is now a new IRS form, designed to facilitate the division of your "community income" items to your separate federal returns.

Form 8958 is linked below. While the instructions suggest this is a preliminary version of the form which you have to check to see if it is later revised, the "official" version of the form - released 3/4 - is identical except for some minor graphics, so no such verification is needed.

Since it is a new form, and wasn't approved until late, it is very possible that consumer tax software (and some cheaper professional software packages) may not include it. This is not really a problem, as the IRS will also accept a plain-paper schedule with the necessary allocations to each separate returnaccommodate it. However, I strongly suggest you review the INSTRUCTIONS that accompany the form, which gives basic guidance on how to do the allocations, and what items are included/excluded from community property. You can also refer to IRS Pub 555 (available at irs.gov) which covers community property issues in more detail.

by TaxTrollEAreply 003/16/2013
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