sjrcpa
Level 15
04-15-2021
03:46 PM
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If the trust owned the stock at the time of sale, the sale is reported on the trust's 1041.
Were the stocks in the trust before she died?
You say irrevocable trust. Was it treated as a grantor trust? If not, there may not be a step up to date of death value.
If it was a grantor trust, the others answers are correct.
The more I know the more I don’t know.