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Investors & landlords
The 'cost basis' for the 'new' roof asset is based on the FMV at Date of Death, not the "remaining amount to be depreciated". You need to come up with an estimate of the FMV at Date of Death, then depreciate 1/6 of that for the 'new' asset, over 27.5 years.
‎June 5, 2019
11:14 PM