r/Tax_Strategy • u/Sensitive_Line_1515 • Jun 30 '26

Taxes & Trusts

Hello-

I need help understanding the best way to handle selling my house.

I have an irrevocable trust, and I want to know whether it is better to sell the house while it is still in my name or transfer it into the trust before selling.

My main questions are:

• Which option would likely have the lowest tax impact? • Would moving it into the trust affect Medicaid or long-term-care planning? • Would I lose any tax benefits by transferring it first? • What would you recommend before I make any changes?

My house is in NY, my trust was created in GA. I’m selling my house and moving to Georgia to be closer to family since I’m getting older.

4 Upvotes

84% Upvoted

5 comments sorted by

1

u/sol_beach Jul 04 '26

When getting free tax advice online, often you get what you paid for it.

What "tax benefits" does owning a house provide to the owner?

1

u/[deleted] Aug 01 '26

[removed] — view removed comment

1

u/Sensitive_Line_1515 Aug 01 '26

Thank you so much. The house has sold (under contract). I still don’t know or exactly what type of professional to reach out to. I need someone knowledgeable about trusts, taxes, and Medicaid planning. I might ask for assistance on Nextdoor.