P
PHanson
Guest
I have what I believe is an easy question, perhaps you can answer it for me:
In March 1999, I purchased a home in my name in Colchester, CT.
In June 2000, I created a living trust with myself and wife as Trustees.
We are now putting our house on the market to sell. It has been more than 2 years as a primary residence, so no Capital Gains Tax will apply; however, since the transfer to myself as Trustee has been less than 2 years, does this change things.
My assumption is No, since all other tax information uses myself and the trust as a single entity.
Thanks,
Pete Hanson
In March 1999, I purchased a home in my name in Colchester, CT.
In June 2000, I created a living trust with myself and wife as Trustees.
We are now putting our house on the market to sell. It has been more than 2 years as a primary residence, so no Capital Gains Tax will apply; however, since the transfer to myself as Trustee has been less than 2 years, does this change things.
My assumption is No, since all other tax information uses myself and the trust as a single entity.
Thanks,
Pete Hanson