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Hi, if the trust is revocable, then it isn't considered a "taxable entity," itself ... in other words, the grantor of the trust has been paying any income taxes on income or capitals gains from selling the assets personally..... so ....
Has someone passed away? If so the heirs will get a step up in basis when, and if, they sell the assets of the trust .... Distributing it to them now is not a taxable event
... meaning, that anyone inheriting assets gets a step up in basis to the Fair Market Value of the asset at the time of death... and there won't be a taxable event until they sell that asset for either a gain or a loss .... so if they liquidate or sell right away, there will likely be not gain (no tax) at all
I still don't see you coming into the chat, so I'll move us to the "Q&A' mode ... Maybe that will help .... DO be sure to let me know if you have more questions (We can still continue our conversation there, just not in real-time as we can here)
... just checking back in here, as I never saw you come into the chat.
Let me know if you have further questions,