Gerhard65
Level 2

It is a New Jersey property, and the asset was her primary residence and transferred into the trust by deed in 2016.  It is an irrevocable Grantor Trust (IRC 671-677) and the Grantor retains the right to the taxable gain exclusion pursuant to IRC 121(a), 121(d)(8)(a) and 121(d)(T) A&B. 

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