Poshc
New Member

Revocable living trust and sale of primary residence

We are selling a property that is in our revocable living trust.  We are both the grantors and still living.  Our trust bank account is under our ssn# and the funds from the sale will be funded to that account.  In the interim, we erroneously signed up for an ein for our trust.  The home sale proceeds would meet the $500k exemption requirements normally.  Even though we have a trust ein, when we file our 1040, would we treat those proceeds the same as we would if the property was in our names vs the trust and report them on our personal 1040 and receive the exemption or did we cause an issue by getting the ein#?