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Get your taxes done using TurboTax
@poolshark333 wrote:....the home gets a stepped up basis and any accumulated depreciation (from the early rental years) is zeroed out...
That is correct; accumulated depreciation disappears and the property receives a stepped-up basis (to its fair market value on the date of death) in the hands of your kids.
‎September 9, 2022
7:32 AM
1,451 Views