After death of spouse does prior depreciation get "stepped" in same manner as cost basis on a rental house?
Lewes, DE
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Posted 5 months ago in Probate
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IOW when figuring taxes for rental house sold several years after death of spouse, I know the basis is stepped up for date of death and additional improvements after death are added to basis. 1/2 value as of date of death (for spouse deceased) plus 1/2 actual costs (for surviving spouse) prior to date of death plus total capital improvements after date of death. What about depreciation prior to date of death? Does the depreciation get adjusted for date of death? IOW cut in half and then add all additional depreciation after date of death?
Answers (1)
Keenan M. Post
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