I have questions regarding James G reply to my question who can provide the fair market value on the property also even if the property is a community property state I am not able to use the full amount on the fair market value but I need to take 50% of the original purchase plus 50% of improvements done before my husband death then 50% of the fair market value on the date he died add these together at this becomes the step up basis other question what happens to the depreciation that has accrued and do I start over with 27.5 years or do I deduct the accrued depreciation reported on our taxes from the fair market value
