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Thank you for your response. The trust was signed in 2007. The property was in trust for 23 years. The trustee sold the property in 2023. She was 1/4 owner of this property via generation Skipping trust. So she should report the gain ( difference of the market value of the property a t the time on the transfer of ownership and the selling price) as the capital gain. Right?
March 12, 2024
10:43 AM