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Mother-in-law transferred primary house to family trust in 2015. Mother-in-law sold that house in 2016. How should this sale be reported on her 1040?

 
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bwa
Alumni
Alumni

Mother-in-law transferred primary house to family trust in 2015. Mother-in-law sold that house in 2016. How should this sale be reported on her 1040?

This Motley Fool article explains why your question is difficult to answer because it depends on the type of trust.

https://www.fool.com/knowledge-center/taxation-of-family-trusts.aspx


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3 Replies
bwa
Alumni
Alumni

Mother-in-law transferred primary house to family trust in 2015. Mother-in-law sold that house in 2016. How should this sale be reported on her 1040?

This Motley Fool article explains why your question is difficult to answer because it depends on the type of trust.

https://www.fool.com/knowledge-center/taxation-of-family-trusts.aspx


Mother-in-law transferred primary house to family trust in 2015. Mother-in-law sold that house in 2016. How should this sale be reported on her 1040?

Thanks, bwa.  A great, concise reference article!

Mother-in-law transferred primary house to family trust in 2015. Mother-in-law sold that house in 2016. How should this sale be reported on her 1040?

Thanks, BWA.  I see why you are a "SuperUser".
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