Bass told People he made the decision to come out after rumors began affecting his daily life.
The 27-year-old singer from Mississippi also waited to disclose his sexual orientation publicly while NSYNC was actively making music and touring. NSYNC has been on hiatus since 2002.
"I knew that I was in this popular band and I had four other guys' careers in my hand," Bass tells People. "I knew that if I ever acted on it or even said (that I was gay), it would overpower everything."
Bass says the decision to reveal he's gay has been liberating and that he is not ashamed of who he is. "I don't think it's wrong, I'm not devastated going through this...I'm just happy."
Bass also says he is in a "very stable" relationship with model-actor and Amazing Race winner Reichen Lehmkuhl.
To read the full Q&A with Lance Bass, pick up the latest issue of People, on newsstands now.
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