swongtax
Level 4
01-10-2022
11:32 AM
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I forgot to mention that the clause I copied from Cornell Law does not specify if it is referring to a Revocable (Grantor) Trust or Irrevocable Trust. If seems to be referring to a Revocable (Grantor) trust due to the last sentence ( and the sale or exchange by the trust will be treated as if made by the taxpayer.)