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Level 2
November 16, 2022
Question

how does Depreciation affect my heirs

  • November 16, 2022
  • 1 reply
  • 11 views

is it wiser to Not depreciate my primary home that's been converted to a rental, for the sake of my heirs? Does depreciation affect them negatively?

    1 reply

    Level 15
    November 16, 2022

    All depreciation deductions (accumulated depreciation) you have taken actually disappear upon your passing.

     

    Your heirs generally take the property with a basis that is the fair market value on the date of your death.