Hi @JulieH1
Your answer is very helpful. I am in a similar situation, but the home is the only asset that was put into the trust. I noticed your answer said, "...(outside trust)". Our mother passed away in January of 2020 and we sold the property late October.
I presume the capital gains will be minimal based on the FMV between January and November.
- Is there a difference for a property that was put IN a revocable living trust that becomes irrevocable once the grantor dies?
- Do I still file a 1041 or another form?
Thank you for your time!
