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tax consequences of selling property transferred through living trust

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What is the name of your state?
California-I along with my sisters have inherited a house from my mother that was included in her and my step-father's living trust. She passed away 2 years ago and we have just recently acquired possession of it. We plan to sell. What tax consequences can we expect to pay? The house was originally purchased in 1950 for @ $10,000, it is now free and clear.
Is there any scenario whereby we could forego paying taxes?

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