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Investors & landlords
I am confused. My understanding was that because my husband and I held the property jointly with property going to the surviving spouse I divide the accrued and reported depreciation in half that mine half remains with me until I sell the property and my husband half is removed then I go forward with the new step up cost basis on the rental property. My question also since the property was in a community property state (California) would I not be permitted to use the appraisal amount going forward as opposed doing the 50% calculations or is it because we resided in Colorado when my husband passed
March 8, 2023
10:48 AM