My mother had put her house in an Irrevocable Trust, to be split evenly between her 3 children. We sold the house and the trust distributed the funds to each of us. She had purchased the house in 2016 for $570k and it sold for $640k in 2021. Do I have to issue K-1s for myself and siblings on the 'profit' of the house (70k) if we only received the house on her death in 2019? Is the 2016 number the correct one for cost basis?
