Son & Parents Buy a Home in 1999 for Parents to live in. Parents Filed Jointly thru 2023 when Father passed away. Father had home office and associated Depreciation for many years. Tax Prep SW shows "Prior" + Current Depreciation of $3,861 for Father as of 2015 Tax return. Father Quit Claimed Deed to Son in 2011 but was married to mom and lived in the home and was eligible to take home office deduction, so he did. For years starting 2017, Simplified Method was used. Final Tax Return for Father was filed in 2023. Home was sold in 2024. Key Question : Does Mom need to Recapture Dad's Depreciation on her 2024 Single Return? Does anything need to be done about this Depreciation? Regarding Basis, How would Mom and Son think about their basis? Home was also rented out for 1 year in 2007/2008 - how to deal with depreciation on Son's '07/'08 Schedule E, if any? Thank You!!
