I already know it was held by my dad as tenants in common with only my Dad and his two sisters inheriting it and on the title. It was never a marital asset. My mom worked with a Lawyer when declining to inherit, so her name was never on it. The pisser is that we paid over $1200 for accounting and over $1500 this year for LLC taxes to get these K-1s and they have been so far too busy to answer any questions besides giving a misleading and wrong reply to which they then said "yes, disregard that example schedule D as my assistant thought it was a corporation" Then no clarification. I am loosing sleep, sadly, and just want an idea on how it should turn out or if I am screwed by depreciation that was taken by the other partners prior, or if I am also screwed becasue I should have taken a major deduction in 2016 when I first put my portion into service, but failed. Really I want this years AGI to be lower and dont want to change the past.
This is beside the point of my taxes, but they had it set up so every single one of her assets got a step up in cost basis, not just my Dad's half. Something to do with Alaska's community property state and/or the will/trust they had set up. She has since dissolved my Dad's trust and merged it with her assets becasue of the seemingly diminishing estate taxes, but that may have been a mistake if rules are changed and her portfolios have doubled since my Dad's passing. She quickly grew tired of having to do two sets of taxes and expense of it, so I cant blame her.
