Hillenburg
Level 4
12-07-2019
04:53 AM
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Wife continued the operation after husband died. She should get stepped up basis after husband's death. Is there a way to stop the old depreciation in August without reporting everything as sold ?
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Marc-TaxMan
Level 8
12-07-2019
04:53 AM
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Try 1 asset. put date sold with no sales price info. If dep deduction is what you want, proceed to all assets.
Then add assets to W's F with new basis and 8/2018 as date acquired.
Full step-up? That means CP State or the assets were owned by H.
Hillenburg
Level 4
12-07-2019
04:53 AM
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I think 50% old basis, 50% new. Thanks Marc, I'll try that.
