When my father died (end of 2018) I inherited one-third of a farm in Kansas (I live in Minnesota) which he inherited from his father. Half was owned by him, half was held in trust.
We sold the farm last year. I know that I will owe tax (capital gains?) on the increase in value for the trust portion and have a K1 form for it. The guy handling the trust said we would need to pay the tax to Kansas. Do we also pay federal tax on it?
Also, is TurboTax Deluxe suitable for this or do I need Premier?
Thanks!
