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My parents house is in trust to myself and my 2 siblings. We
my parents house is in trust to myself and my 2 siblings. We need to sell their present home and buy a larger home so my sister can live with them. Can we sell and buy a house with the trust … read more
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I am the Successor Trustee of my parent's Revocable Living
I am the Successor Trustee of my parent's Revocable Living Trust. Their home is an asset of the Trust and I sold the home as part of my duties to liquidate the estate. They purchased the home for $375… read more
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Vacation home was deeded to land trust. Property has short term rental income through Air BNB and Home away. Three individuals are beneficiaries of the land trust. What are filing requirements for ben… read more
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PDTax need assistance. On a 1041 there is a Decedent's
PDTax need assistance. On a 1041 there is a Decedent's Estate Created at time of death. First year of death 2016. A final 1040 return was filed for year of death 2016. There was a RVOC trust created i… read more
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Property(real estate) held in the irrevocable trust was
Property(real estate) held in the irrevocable trust was sold, and the monies were put back into the trust. Those monies were then used to purchase a new home. How do I as a trustee file? … read more
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Trustee wishes to pay taxes on the trust's sale of a home in
Trustee wishes to pay taxes on the trust's sale of a home in the final year of the trust … read more
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My parents created a simple irrevocable trust in 1995. In
My parents created a simple irrevocable trust in 1995. In getting an EIN for it, May 2106, the IRS said I need to file form 1041 for 1996-2016. How do I do this? … read more
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I am selling my deceased mother's home as the trustee. My 3
I am selling my deceased mother's home as the trustee. My 3 siblings are successor trustees. Per California form 593-C, my mother lived in her home for 2 years within the 5 year period prior to the sa… read more
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My husband & I have a revocable living trust where we were
Hi. My husband & I have a revocable living trust where we were both trustees, then he resigned & I was sole trustee, then he became incapacitated, then I appointed an institutional co-trustee to serve… read more
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My mom passed away 10/18/15. Most of her assets are in a
My mom passed away 10/18/15. Most of her assets are in a trust in a brokerage account. I am trustee. total assets are less than 1M. The trust is in her SS# ***** are the tax returns I file each year (… read more
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I have a client whose mom passed on 9/11/13. An estate was
I have a client whose mom passed on 9/11/13. An estate was set up and an ID was given out on 3/24/14. A home was placed in the estate and was sold on 10/27/14. The estate also received interest totall… read more
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what if form 8855 was not filed and the trust is electing 645,
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Six children have equal ownership for a property (home) after
Six children have equal ownership for a property (home) after the passing of both parents. The home is paid for in full, but one sibling has a life estate, per a living trust. No tax return fro trust … read more
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A dependent recd grant money of $2,500 and the tuition was
A dependent rec'd grant money of $2,500 and the tuition was $7,000. The parent will get the tuition as an education credit, who reports the grant money rec'd, the dependent or the parents? EIC rules, … read more
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My wifes mother put her house into an irrevocable trust on
My wife's mother put her house into an irrevocable trust on 7/9/09. Her mother died on 9/12/11. My wife and I bought out her three other siblings on 3/23/12; however, the trust was the name on the pur… read more
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My mother died 7/4/2010 leaving nine living children. My parents
My mother died 7/4/2010 leaving nine living children. My parents had established a family trust prior to my father's death in l996. Two siblings were named as trustees by my father and the same two we… read more
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This is an estate law /IRS Tax question. My dad died in 2003.
This is an estate law /IRS Tax question. My dad died in 2003. His will, which went through probate under Texas Law, set up a testamentary qualified Family Trust. The trustee placed and deeded an undev… read more
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I have what I thought was a simple question, but I have received two different answers from the IRS, a financial advisor, and a lawyer. In addition, most of the information on the web has to deal with… read more
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