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Old 11-12-2006, 06:41 PM   #1
momjd
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Step Up Basis for House in Trust
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If a primary residence of a widow is transferred to a living trust to avoid probate, will her trust beneficiaries get the house at a stepped up basis? Assuming she paid $100K for the house in 1989, at the time it is transferred to the living trust it is worth $500K, and at the time of her death, it is worth $700K, what is the basis for the trust beneficiaries?
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Old 11-13-2006, 10:34 AM   #2
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http://www.irs.gov/businesses/small/...106537,00.html


I don't know anything about trusts but I thought this was interesting.
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Old 04-26-2007, 02:43 AM   #3
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check Pub 551
http://www.irs.gov/pub/irs-pdf/p551.pdf
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