kailualady
New Member
Last year, our 4 adult children inherited equal portions of 3 rentals of similiar value via a trust. We are executors. One rental needed to be sold because 2 kids wanted to cash out (one needed 1/4 share in cash, the other agreed to hold a note on unsold rentals for his share). 2 kids are keeping the remaining 2 rentals as tenants in common. The rental to be sold was vacant and on the market 7 months. Due to falling CA market, it just sold at $57,000 below probate appraisal. Selling expenses were $26,000 (points, pest repairs, commission, etc) and did not including general repairs and upgrades to put it on the market. The other 2 rentals remained occupied and rent income is still held in trust. No party is in a tax bracket to take advantage of capital loss. The remaining 2 rentals have remained occupied and income is being held in trust. How do we distribute the trust among our 4 children? Guidlines, please! Dissention is brewing. Thanks.
