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Sale of a residence in a QPRT Logo aicpa

  Kevin D. Anderson, CPA, J.D. |   Free |   AICPA |   01 May 2017 |   Tax Adviser Magazine

A qualified personal residence trust (QPRT) is a statutory estate freeze technique that generally has a grantor making a gift of a remainder interest in a personal residence (often to children) while retaining an interest in the home for a term of years (Sec. 2702; Regs. Sec. 25.2702-5(c)).  This article discusses what happens if the residence is sold during the QPRT term. 

Topics covered:
  • Tax: Technical: Taxation of estates & trusts: Gift tax, Foundational