Stearns County, Minnesota | PaKettle - 2/27/2021 17:52 Alright then, if the trust sells grain or lumber already there at time of death, is that considered taxable income, or just property of the trust converted to cash? That is, there is not any real gain after death. This is from my recall on settling my Dad's estate. From the time of death until the estate is closed, income tax is filed under a probate type income tax. The lumber, in my judgement, would come under a depletion allowance, such as is used in oil, gas and gravel. The property declines in value, once the oil, gas, or gravel is taken off. |
Estate Question
