Journal Issue:
Agricultural Law Digest: Volume 11, Issue 12
Agricultural Law Digest: Volume 11, Issue 12
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Cases, Regulations and Statutes
(
2000-06-09)
Publication
Sale Of Residence In Trust: Is The Exclusion Available?
(
2000-06-09)
With more use of trusts, particularly revocable inter vivos trusts, the question is being raised with increasing frequency as to whether sale of the residence by the trust is eligible for the $250,000 exclusion from income ($500,000 for married taxpayers) on a joint return. The stakes are high and may influence whether a residence is placed in trust.