did the partnership make an iRC section 754 election? if so the k-1 should reflect this. this would also mean that since inheriting the property, the step-up to the extent allocable to depreciable assets should have been depreciated and reported on your k-1 as a 754 deduction this would be on line 13W and described as section 754 depreciation every year. if the partnership failed to make the election, then you don't get the benefit until you completely dispose of your partnership interest which can result in a capital vs an ordinary loss