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Investors & landlords
What about when the house is sold and the grantor is still alive? My Dad setup an irrevocable trust for his 3 kids, me and my 2 siblings. We sold the house, and the house is in the trust. The mortgage was paid off so it was a large cash amount that went into a trust savings account. Will the Trust have to pay capital gains on that entire amount?
‎July 5, 2019
8:04 AM