As to the Best Answer posted by AmeliesUncle on 2/5/23 at 4:08 PM: The subject rental property in my case is located in Pennsylvania. Pennsylvania does not allow a step up in basis for property acquired fully by a surviving spouse where the property was previously owned as joint tenants by entirety by both spouses. This is my case. Given this, I am somewhat concerned with how to address the approach described by AmeliesUncle when I have to prepare the PA return. For example, how do I reverse all of the changes so as to keep the basis the same as it was? I am in particular concerned with the proposed deleting of the old asset.
Any thoughts on how to address this situation would be greatly appreciated.
