Tuesday, July 29, 2008

Richer or poorer -- chicagotribune.com

ok more reasons for full marriage equality on the federal level even divorce in not equal for same-sex couples.

Richer or poorer -- chicagotribune.com

July 27, 2008
Because federal law defines marriage as being between a man and a woman, the government doesn't extend many standard divorce benefits to same-sex couples. Gay couples thus face financial consequences that heterosexual couples don't. Among them:

•Federal law allows a pension to be divided during a divorce without triggering early-withdrawal penalties. Divorcing gay couples must pay the penalties.

•Court-ordered alimony payments can be deducted from federal income taxes in straight divorces, but not in same-sex divorces.

•Court-ordered transfers of money or assets to a gay spouse may be subject to taxes.

•Court-ordered property transfers from joint ownership to one gay spouse often trigger capital-gains taxes.

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