|
I'm not an accountant or a tax guy so this could be dead-ass wrong. Consult with a tax lawyer or tax professional before relying on Chiefsplanet advice, blah blah blah, etc etc legal disclaimer.
A trust is not the same thing as a person who inherited the property. I dont know that the trust can "inherit" or receive a step-up in tax basis, so if the trust sells there could be a "profit". If the trust sells the house, then the trust may have some nasty taxes to pay, but I dont know that for sure. You may need the trust to give title to the beneficiaries, then they sell the house.
__________________
how many emo kids does it take to change a lightbulb?
HOW MANY?!
none they just sit in the dark and cry
|