- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Thanks for the reply. I hope I am using the terminology correct: gifted. The property was give to us by our father prior to his passing--i.e. it did not pass to us via his estate. Thus, we assumed his original basis / purchase price, of say, 50k.
Since then, I have used 50K as the cost basis for depreciation during the last 10 years acting as 100% owner. My sister has not one mention of this property in her taxes.
‎October 23, 2019
8:15 PM