Five Tax Tips for Community Property States

OVERVIEW

Community property laws view marriage as a partnership in which both spouses equally share the income and assets they acquire after the wedding. Nine states -- Wisconsin, Washington, Texas, New Mexico, Nevada, Louisiana, Idaho, California and Arizona -- have community property statutes that affect a married couple's federal income tax return.

When Dr. Phil says marriage isn't a 50/50 proposition, he's not referring to spouses owning property in a community property state. Community property laws view marriage as a partnership in which both spouses equally share the income and assets they acquire after the wedding.

Nine states -- Wisconsin, Washington, Texas, New