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Retirement tax questions
Our mother left her home in a land trust
to my sister and me we will collect the money before end of year. How should we file now that the house sold.
You should seek professional help. Especially if your state taxes personal income. If the property was titled to the trust and then sold, then "you" didn't sell it; the trust sold it. The sale would be reported on the 1041 trust return. Now that's just "one" of many possibilities here based on my assumptions which are "not" based on any facts (since none were provided). Seek professional help for this please.
‎November 10, 2022
11:43 AM