jerry
Level 5

My client's spouse died mid-way through 2020; they owned many rental properties.  Since California is a community property state, her attorney and I have agreed that the surviving spouse has 100% step-up on her inherited property, including the rentals, and we can re-start depreciation on all of them, at the full appraised value at date-of-death.  The client has obtained all of these appraisals.

My question is how to do this in Lacerte.  There would be depreciation at the old rates for part of the year, until DoD, and then new depreciation starting at DoD.  Is there an easy way to do this?  At least all of the improvements over the years don't have to be re-entered (there are 62 assets on the dep'n schedule)!

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