Thanks for your response! Taking point 2 of a suggested answer "Create another new "asset" using 50% of the Fair Market Value on the date of death, and use the date of death as the "placed in service date".". Just to confirm - rental house bought in 1985 for 80K. Building value of $60K has already been fully depreciated. On date of death, FMV was $200K. So, do I simply have the new asset valued at $100K and then start depreciation again from there over 27.5 yrs?
