Investors & landlords


@rpctmc wrote:

Home was appraised @ 155k, payoff 129,603 and I bought out each sibling for 5k each. 


Was this a date-of-death appraisal? If so, you would most likely use that as your initial cost basis and then add the total you paid your siblings (presumably $15,000) in order to arrive at your basis for depreciation.

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