- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
When depreciating a converted property, you choose the lower of adjusted basis or the Fair Market Value on the conversion date. If basis is lower, use the date of purchase for land. If the FMV is higher, use date of conversion price.
ā€ˇFebruary 29, 2020
7:17 AM