DOD was was 10/2011....basically... the trust was created to make sure the dying spouse (beneficiary's mother) could pass along her 50% interest in the primary residence to her child, the sole beneficiary. You know in case "dad" got remarried.
The trust was created in 2008, she died in 2011, then in 2023 the beneficiary's dad had to move due to age, so the house went up for sale and sold in march 2023, which 50% proceeds went into the trust, then distributed within 40 days from the sale of the house.
Seems like a short term capital gain??
Should the Trust pay the tax or the beneficiary? Does it matter?
Thank you!!
