I have a similar question about an inheritance of house. My moms house was in their family trust and I was the beneficiary of the house according to the trust. I used the house as a rental from Aug.2011 to March 2021 and ran the rental “business” with the house still in the trust. I am also the trustee of my parents family trust. I have done tax returns for the trust for the rental income. In March of 2021 I paid off the mortgage on the home then transferred the property to myself with a quit claim from trust to myself and recorded with county. In July I sold the home which is now in my name. I know I have to claim the capital gain and got a 1099s to report sale price. My question is for the basis of the value of home to deduct from sales price. Would it be the FMV in 2011 when my mom passed, or the FMV in March 2021 when the house legally became mine? Transferred from trust to myself. Thank you