MarilynG1
Expert Alumni

Investors & landlords

You could mark the Original Asset as 'converted to Personal Use' as of the DOD.

 

Then enter the New Asset with the stepped-up Cost Basis as of DOD (and also as 'Date Placed in Service') and continue claiming Rental Income/Expenses/Depreciation on the new asset. 

 

Click this link for more info on Rental Property Stepped Up Cost Basis

 

 

 

 

 

 

 

 

 

 

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