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Withholding on CA Form 593- Stepped up basis
I am the successor trustee of my Moms estate. Recently we sold land and a cabin in California, and distributed the proceeds to the three beneficiaries. However, the title company withheld 3.3% of the gross sales price, about $9400.
I'd like to claim a loss or no gain and get back this withholding. Since the date of death appraisals were greater than the gross sales price by $120000 can I claim a loss and get back the $9400 when I file taxes on the estate?
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‎October 3, 2024
12:34 PM