Community property with right of survivorship

A way married couple can own property that is a variant of joint tenancy with right of survivorship. The difference between community property with right of survivorship and joint tenancy with right of survivorship is how taxes are calculated for the half the survivor. To calculate a profit or loss for taxes, you subtract what the taxpayer paid for the property (aka basis) from the price the taxpayer sold the property for. The basis for joint tenancy with right of survivorship is the value at the time the couple first acquires the home; the basis for community property with right of survivorship is the value at the time of the owner’s death.

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