My sister and I jointly owned rental property. She died in 2018, and I inherited her half. I then sold the property. How do I report this, since the basis for each of the two halves is different, and recapture of depreciation only applies to the half I already owned? Do I simply enter this as two separate transactions, or do I add the two bases together, and report only the depreciation recapture from my half, and report it as a single transaction?
You'll need to sign in or create an account to connect with an expert.
Either method would be acceptable. I would enter it as two separate transactions.
Either method would be acceptable. I would enter it as two separate transactions.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
cparke3
Level 4
redmoose
Returning Member
kcoub1
New Member
Paga
Level 2
Landlady J
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.