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depreciation of inherited rental property
Inherited rental property. On the form in TT it asks for:
COST: I put the original cost plus 1/2 of FMV of property on date of death.
COST OF LAND: is this the cost of the land when it was originally purchased or is it the cost of the FMV of the land on date of death.
Thank you for clarifying!!!
March 31, 2022
9:04 AM