When entering purchase date for a rental property (converted from personal use), do I use the original purchase date, or the date my husband died and my basis stepped-up?

[pocari60]

The answer to this will determine whether I enter the original purchase price for depreciation or the stepped-up cost basis.  Thank you.

[DanielV01 · Accepted solution]

Use the stepped-up basis.  This is one of the beneficial provisions in the tax code:  your basis in the property is the stepped-up basis you receive for inheriting the property after your spouse's death.  This allows you to get greater deductions on deprectiation.

We are sorry for your loss.