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Investors & landlords
About Publication 504, Divorced or Separated Individuals - IRS has a chart and may offer some help. As @Rick19744 stated above, we don't have the full information.
Beyond that, I would need to see tax returns, divorce papers, etc. With no knowledge, I will say there should be a clear delineation of the property going from joint ownership to just you. Your basis may increase by the expenditure but you keep the depreciation already claimed. See IRS Pub 544
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‎February 9, 2024
12:18 PM
1,740 Views