Thanks, I will check the FMV on 2011 and use the lesser of that or the value when purchased. Thanks for your help. Dean

Carl, I am not now just reporting the value, I did that the first year that I started to depriciate, however I used the Purchase price for the buildings and lef...

Thanks Carl, I agree - We have our records from the county assessor in 2011 when I converted. So I will use that as it is less that the value when we purchased....

Thank you that helps explain it. How doninfond out the FMV of the property in 2011. Is there a website you can recommend that may have that info. I appriciate t...