topic The adjusted basis on a rental property received as a gift to a related person is the donors . What depreciation schedule does the donee use? The donors? Or 27.5yrs? in Investors & landlords

The adjusted basis on a rental property received as a gift to a related person is the donors . What depreciation schedule does the donee use? The donors? Or 27.5yrs?

mymathlady — Sat, 01 Jun 2019 18:17:02 GMT

You will want to start a new 27.5 year depreciation cycle...

HelenaC — Sat, 01 Jun 2019 18:17:04 GMT

You will want to start a new 27.5 year depreciation cycle, but as a gift you have to use the basis of the donor (same amount as they used when they purchased with any basis adjustments/improvements added).