Trust, Inheritance, Deed Title and Taxes

by Gayle
(Troutman, NC)

Before my Mother passed away in 2010, we put everything of hers into a Trust. We did not know that the deed (house is paid for) should have been transferred into the Trust. Now the tax office is saying the Trust is void because we went beyond the statute of limitations on transferring the deed. We are in probate now. My question is: do we (siblings and I) have to re-do our 2010 taxes to show inheriting her house?

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.

Trust Taxes

What rate are trust assets taxed at?

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.


Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you each month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.


Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Bookkeeping Basics E-Zine.


Like Bookkeeping-Basics.net?