@AmeliesUncle wrote:
Anything to support that?
Regulation §1.1015-1 says "the basis of the property for the purpose of determining gain is the same as it would be in the hands of the donor or the last preceding owner by whom it was not acquired by gift"
Probably the same support as you have in terms of the Code and Regs: not much beyond logic and the concept of "gifting" depreciation sort of defies that.
As for the Reg, for the purposes of determining gain, yes, but not necessarily for the purposes of determining the depreciable basis.
