The basis of trust assets would usually be a carryover basis from the trust grantor.

Question

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Generally, when property is transferred to a trust, the basis in the trust assets is carried over from the grantor's basis before transfer. This means that if the trust later sells the asset, the gain or loss will be calculated based on the trust's sale price minus the grantor's original basis in the asset. There may be some exceptions or special rules that apply in certain circumstances.

The Basis of Trust Assets Would Usually Be a Carryover