TROS
Returning Member

State tax filing

Got it thanks. 

 

Can you adjust the basis of the property to only reflect the depreciation that you were actually able to take?

 

Said differently if you bought a property for $50K depreciated it $30K so the adjusted basis would be $20K but if you weren't able to take any of the $30K depreciation against income on your PA return can you adjust the basis back to $50K such that if you sold the property for $50K there would be no gain since you didn't get any tax benefit from the depreciation?