Does this apply for inherited rental property from one spouse to another?
My CPA said: "Generally speaking the "depreciable" basis does not change due to step up due to inheritance." This seems wrong. We sold 2 of the 3 rental homes in 2018 and used the date of death FMV cost basis in the 2018 returns reporting the sales of those houses. I'm reviewing the depreciation, and this CPA did NOT use the new cost basis for the remaining house.
Your thoughts?
