How do I change the cost basis of my rental property? I previously owned 50% but now I own 100%.

paltech7 — Tue, 03 Feb 2026 07:53:12 GMT

I entered 100% ownership but the cost basis remains the same as before. The depreciation amount also remains at 50% which I am not able to change

Re: How do I change the cost basis of my rental property? I previously owned 50% but now I own 100%.

MinhT1 — Wed, 26 Feb 2025 15:57:54 GMT

I assume that you have acquired the remaining 50% of the rental property,

You would have to add another asset for the second 50% of the rental property.

This asset will have as cost basis your purchase price and will start depreciating from the date you put it in service.