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@41Viking wrote:
should there be a stepped up cost basis?
Yes.
Then why when I filed a trust tax return using Turbotax business for mom, We had to pay taxes on that gain?
The stepped-up basis is the value of the house on the date of her death. If the house sold for $50k more than that value, the trust had taxable income of $50k.
Did you enter the correct basis? Stepped up to FMV as of the date of death?
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