I have owned a rental property for about 10yrs. Last year I gave 50% of the ownership to my mother as payment for her original down payment for the rental. I have gone to the county and officially recorded it.
My question is for 2022 taxes I want to reported 50% ownership instead of 100% ownership. How do I properly do that and move over all the depreciation I have taken over the past 10yrs?
Additionally since my mother now owns 50% of the property, when she reports her taxes does her depreciation schedule start from 10yrs ago or now?
