Taxfun
Level 3

Father died 10 years ago. Mother did a quit claim and passed the house to their son. in 2020, son rent out the house. what is the basis for the depreciation, the parents' adjusted basis at the time of the transfer (quit claim) or the step-up basis on the date of father died? I think that it should be the parents' adjusted basis at the time of the transfer (quit claim). Any thoughts? Thanks!

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