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    ASTIDIXIE's Avatar
    ASTIDIXIE Posts: 0, Reputation: 1
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    #1

    Jan 9, 2011, 11:52 PM
    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
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Jan 10, 2011, 11:10 AM
    Redundant question; already answered.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    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.
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