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?
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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?
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?
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).
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?
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).
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