The house is the only asset held by the living trust. It was sold shortly after the grantor died so there was no appreciation in the house value between the date of death and the date of sale.
Also, does this make distributions to beneficiaries tax free because there were no capital gain?
Is there no capital gain tax on house sale of a decedents revocable trust?
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Answers (1)
If there is any taxes do the trust has to make those payments but if the house was sold there shouldn't be any taxes to worry about not even capitol gains it would their responsibility to make that payment I would ask them if they took care of that obligation and all those bills that came with it and what's left they would make payments to the person who is entitled to get them.