CarolineS
Level 1

I understand that the step up occurs on date of death, the asset is retired,  and then the asset is added as a new asset.

Is prior depreciation deducted from the appraisal at date of death or does it just go away?

Community property state with full step-up at the death of one spouse.

Thoughts and advice would be greatly appreciated!

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abctax55
Level 15


Death is the great tax dodge.... the old depreciation just goes away...

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
CarolineS
Level 1

 Thank you!  Nothing like getting the answer you want!

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