Question regarding a trust

[taxdude71]

Don't do a lot of these, but could use the input. Clients put a farm into the trust (complex, I believe). Is there any kind of step up in basis on the assets or do they all come over at the exsisting basis?
Any other suggestions for things to watch out for?

[Lion]

Gift Tax Return?

So, your client gifted a farm to a trust? Adjusted basis the same as in the donor's hands.

[Burke]

Don't do a lot of these, but could use the input. Clients put a farm into the trust (complex, I believe). Is there any kind of step up in basis on the assets or do they all come over at the exsisting basis?
Any other suggestions for things to watch out for?

Sounds like you may be doing the trust return? You need a copy of the trust document to start with and then bone up on 1041 procedures, unless it is a RLT.