When entering purchase date for a rental property (converted from personal use), do I use the original purchase date, or the date my husband died and my basis stepped-up?

pocari60 · ‎June 4, 2019

The answer to this will determine whether I enter the original purchase price for depreciation or the stepped-up cost basis. Thank you.

DanielV01 · ‎June 4, 2019

Use the stepped-up basis. This is one of the beneficial provisions in the tax code: your basis in the property is the stepped-up basis you receive for inheriting the property after your spouse's death. This allows you to get greater deductions on deprectiation.

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When entering purchase date for a rental property (converted from personal use), do I use the original purchase date, or the date my husband died and my basis stepped-up?

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