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Community Basics
Did the trust sell the property or did the trustee transfer the property to her and then she sold it? If the trust sold the property then she should get a K-1 from the trustee. If the she sold the property after it was transferred to her then she has gain based on the difference between the selling price and her basis.....she takes the trust's basis no matter how long the property has been held in the trust.
March 12, 2024
3:10 PM