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Updated about 13 years ago,
Trusts & tax free gain on primary residence
I heard that if a person puts their primary residence in a trust and sells it for a gain, that said gain is taxable.
We all know if a person owns & occupies (qualifies) for the 250/500k tax free gain on the sale of their primary residence, but the question, is:
does holding the home in a trust disqualify you? Thanks to the brains behind the answer!