Results 1 to 2 of 2

Hybrid View

  1. #1
    Join Date
    Feb 2009
    Posts
    12

    Default Capital Gains Taxes on Sale of Property Held in a Life Estate

    My mother's home has been transferred to a family trust,she has a life estate interest which will be terminated in order to sell the home. I am the trustee. For tax purposes,should the capital gain on the sale be shown on the family trust tax return?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Capital Gains Taxes on Sale of Property Held in a Life Estate

    What's the background here? This was a revocable living trust that is now irrevocable due to your mom's present mental condition?

    1. Sponsored Links
       

Similar Threads

  1. Trust Administration: Avoiding Capital Gains for Real Estate Held in Trust
    By DebRI in forum Estate Planning, Administration and Probate
    Replies: 9
    Last Post: 01-23-2014, 11:38 AM
  2. Life Estate and Capital Gains Tax
    By taxhater in forum Estate Planning, Administration and Probate
    Replies: 3
    Last Post: 06-26-2009, 08:09 PM
  3. Capital Gains Taxes on a Life Estate
    By 445orange in forum Tax Law
    Replies: 5
    Last Post: 06-19-2009, 05:27 PM
  4. Capital Gains on a Life Estate
    By tauruz in forum Tax Law
    Replies: 4
    Last Post: 06-18-2009, 08:03 AM
  5. Life Estates: Life Estate Capital Gains on Sale
    By miamad in forum Real Estate Ownership and Title
    Replies: 1
    Last Post: 09-21-2006, 05:57 PM
 
 
Sponsored Links

Legal Help, Information and Resources