@ThomasM125 wrote:
The cost basis would be the fair market value of the house when the trust was created plus improvements made to it after that time.
If this is the standard revocable trust (aka living trust, RLT, etc. and not something like an IDGT), then the basis is not the fair market value on the date the trust was created. The basis is the fair market value on the date the trust became irrevocable (which is almost always the date the grantor died).
