Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   Tax question re: trust house (https://www.askmehelpdesk.com/showthread.php?t=542428)

  • Jan 9, 2011, 11:52 PM
    ASTIDIXIE
    Tax question re: trust house
    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
  • Jan 10, 2011, 11:10 AM
    AtlantaTaxExpert
    Redundant question; already answered.
  • Jan 10, 2011, 11:27 AM
    MukatA

    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.

  • All times are GMT -7. The time now is 07:54 PM.