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View Full Version : Tax question re: trust house


ASTIDIXIE
Jan 9, 2011, 11:52 PM
November 2008 Mother passed away
House was in trust
Brother and I sold house May 2010

I have no idea what to do on my taxes this year... H E L P please

AtlantaTaxExpert
Jan 10, 2011, 11:10 AM
Redundant question; already answered.

MukatA
Jan 10, 2011, 11:27 AM
The cost basis of the house is fair market value at the date of death of your mother. So you have a long term capital gain or loss.