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368023
Level 1
Jan 29, 2026 8:39 PM UTC
Question

1099s

My husband and I purchased a home in 2020 for our daughter. The deed was designated as a trust in her name. Unfortunately my daughter predeceased us and we sold the home in 2025. Are the capital gains on the sale of this property handled in a differently because of the trust designation, or is it pretty straightforward?

    1 reply

    AmyC
    AmyC
    Alumni - Intuit
    Jan 29, 2026 9:24 PM UTC

    What you do depends on the type of trust. If it was a revokable trust, your basis in the house is used and sold as a second home on sch D.

     

    You will want to talk to the lawyer that set up the trust for other scenarios.

    • irrevocable trust 
    • qualified personal resident trust 

    I am very sorry for your loss.

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