When you put a house into a revocable living trust, you can get a step-up on a tax basis. If you're married and in a community property state like Washington, you get this benefit twice. When the first spouse dies, the house receives a step-up in basis to the current market value. When the surviving spouse dies, you get a second step-up in basis to the market value at that time.
A revocable trust isn't its entity while the trustors are alive, so it uses their social security numbers for tax purposes, allowing for the step-up in basis at each death.
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