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Submitted 356 days ago...
Tax basis on real estate in intervivos trust
Ky Mother creates intervivos trust and deeds real estate into trust. Life estate to son and daughter-in-law then property equally to three grand children. In Ky no estate tax to son or grand children. At mothers death value $200,000, her basis was 13000. When is basis for grandchildren established? How is this basis documented. Estimate that son and his wife will be 50 yrs old at mothers death.
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