Legal Question in Wills and Trusts in California

IGT cost basis on primary residence transfer

When transferring a primary residence to an irrevocable grantors trust, can the trust receive a new cost basis which includes the primary residence exclusion for capital gains (250K or 500K) from the grantor(s)?


Asked on 5/07/09, 1:42 pm

1 Answer from Attorneys
Michele Cusack Pollak & Cusack

Re: IGT cost basis on primary residence transfer

No.

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Answered on 5/07/09, 2:03 pm


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