You are here:
- Home
- Real Estate
- Home Buying/Selling
- Buying or Selling a Home
- taxes on property sale within trust
Buying or Selling a Home/taxes on property sale within trust
Advertisement
Question
What are the tax implications for the sale of a home, held in trust, for several years, on the gain. House is in Ma. The grantor of the trust is elderly, in poor health. The beneficiaries have a buyer and want to know if they would be better off, tax wiae, to wait for the home to be inherited and then sell.
Cliff,
Your question is not possible to answer as the tax code is very complex. It depends on multiple factors, including income of the beneficiaries and trustees. You should consult a tax advisor. I know enough to know that I can't answer it.
Matt
Related Articles
- Moving to Phoenix - Free Online Course About Relocation to Phoenix - Taxes
- Taxes on Home Sale Profits - Tax Breaks for Home Selling
- Overview of Taxes that Affect an Estate - Estate Taxes, Gifts Taxes, Inheritance Taxes, Death Taxes, Income Taxes, GST Taxes
- Tax On Home Sale - Will I Pay Tax On My Home Sale
- Illinois State Taxes - A Guide to Taxes in Illinois
Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
- Karyn Foley
- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,RealtorŪ
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Matt Heisler
Expertise
I can answer questions about buying or selling your home, and questions about the market in Massachusetts, with detailed answers if you ask about my specific area in Mass, Metrowest. I can help with Investment property and the basics of financing. How to construct deals and how to find bargains and how to protect capital. Land, home sales, rehabs, fix and flips, income property are places where I could be able to assist you. I can also answer basic questions about foreclosure, short-sales, 1031 exchanges, and basic questions about how the economy and credit markets are functioning and how that affects you.
Experience
My company sells residential real estate in Metrowest, and we have had a been selling real estate in the area for 20 years. My Blog can be read at Real Estate Sales in Massachusetts
Organizations
Southborogh Rotary
Education/Credentials
Vanderbilt University BA
Past/Present Clients
My client list is private.
©2012 About.com, a part of The New York Times Company. All rights reserved.