Sorry for not being totally clear. Yes, the house was sold in April 2022 in Northern California after my mom’s passing in October 2021. Father has passed also. The house was in the name of their trust. When it sold, the proceeds went into a trust that was set up in my and my brother’s names. From there, my half of the proceeds went into two individual trust accounts for each of my boys. I personally did not benefit financially from my half of the sale of the house. The house sold for around $25,000 above the appraised value. Will I receive a tax form from the government showing the sale of the house and any capital gains that my brother and I owe? Never done this before so we don’t know. Will the house selling for above the appraised value be considered in the capital gains area?
