When my mother-in-law died, 10/30/24 in Oregon, the 4 children (all adults1 in Oregon, 3 in Washington) received the farm in a trust. The trust sold the farm and the proceeds were split between four of us ($300,000 each). Do we need to claim this on our 2024 return or is it exempt? Do the Washington people need to file an Oregon tax return?
Thank you,
Michael Carpenter
[email address removed]
