I inherit a few apartments with tenant who has lease with the deceased person.
so, those apartments are rental property. I am the only official heir. yet, the deceased left some agreements to give some of his properties to someone else. however, that requires court's justification, so that it is a 'death bed gift'. then the property can be transferred to the final person who supposed to receive this bequest.
in short, I am only a temporarily holder of these properties. after I post a few question on this forum and realized I might have to deal with this. I kind of have to report the rental income and claim depreciation.
now, next year, the court rules I need to transfer these property to someone else. and no sales actually take place, it is a bequest from the deceased.
in such case, should I just take these property off my 1040? do I need to do anything else? remember there is no sales involved.
