My spouse passed away 2 years ago. The basis of our rental was stepped up to market value when he passed away. I sold the property this year.
Question:
1. Do I have to recapture depreciation taken both before his death (based on the original cost) and depreciation taken after his death on the stepped up basis? Or,
2. Do I just have to recapture depreciation taken after his death on the stepped up basis?
Many Thanks,
LoLo
