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sale of decedent's home

December 05, 2016 • Anonymous • Log In to Post Comments

  If the home residence is in a survivor trust (and the beneficiaries are the kids) when the second spouse dies, and the home is subsequently sold, the 250,000 exclusion still applies...correct? 


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Generally if a residence is owned by a trust in which the taxpayer is the grantor, the exclusion applies. If owned by other than a grantor trust, the exclusion generally does not apply.

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