Gerhard65
Level 2
01-04-2024
12:24 PM
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My client died in 2022 and her primary residence was put into a Grantor Residence Trust in 2016. The client was entitled to stay in the home providing payment of real estate taxes, home maintenance, etc. The home was sold in 2023. No step up in basis is available to the Trust. Is the Trust entitled to the primary residence $250,000 home exclusion or is subject to capital gain treatment only?
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