Quote:
Originally Posted by JoelJohnson
Correct me if I'm wrong, but if you put your house in a trust, doesn't the person that gets the house have to pay taxes on the original price of the vs the selling price (if they sell it?). If they inherit it, the property gets adjusted to current value.
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No. Typically, the house still gets the same stepped-up cost basis when it transfers to a beneficiary from a revocable living trust.