Is there any tax liability for a successor trustee who is also the beneficiary of the trust and the trustor left the house and other assets to the beneficiary/trustee. The house was sold immediately upon the trustor's death. What taxes would the beneficiary be liable for since the only encumbrance on the property was owed also to the beneficiary but the property had equity over and above the encumbrance. The fair market value/sales price did not exceed $250,000. Will there be a capital gains tax, estate tax, or other taxes that the beneficiary is liable to pay?

Because a trust is involved, and because we cannot review the trust document itself, no answers to your questions will be forthcoming.

You need to contact a local tax professional with expertise in trusts to get accurate answers.