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    janicedow1's Avatar
    janicedow1 Posts: 1, Reputation: 1
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    #1

    Apr 12, 2012, 05:43 PM
    Taxes on home if sister buys out shares
    Mom died and had a living trust. All four kids are named in the trust. One sister wants to buy out the other three siblings quarter share. If we sell out share to our sister, we will have to pay taxes ?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Apr 23, 2012, 11:32 AM
    Yes, if she pays MORE than what the trust was worth at the time of your mother's death. You would pay taxes on the difference between the curremnt value and the value at the time of her death.
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