@bfamily96 You NEED to use the accountant that filed form 706 and your 1040 for 2020. This is NOT the year to do it yourself. If a 706 was filed that means the gross estate plus adjusted taxable gifts and specific exemption exceeded $11 million. Otherwise SCH A SHOULD have the correct values to use for your basis and depreciation does start over at 27.5 years for residential RE. Also any value increase between the date of death OR alternate valuation date and the date of sale would be capital gain.
@bfamily96 wrote: I agree that your answers are awsome.
Be careful about what you've read in the posts here. Some of the information is 100% wrong and some other information is only someone's opinion. Take everything with a grain of salt and not as gospel.
