After 5 years of living at the cabin we are ready to sell the property. As the trustee on the trust can I transfer the deed to my mother as individual and then sell the property to qualify for section 121 primary residence exclusion which allows up to $250k? Any help would be appreciated.
Cabin my father owned went through probate and was transferred to a testimonial trust best way to mitigate capital gains.
byu/BadgerBoy111 intax
Posted by BadgerBoy111