Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

residential rental real estate owned by an estate

bdewoldt
Level 1

Taxpayer owned a rental property and died 02/29/2020.   The estate operated the rental property from date of death until the title was transferred to a beneficiary 11/02/2020 (another beneficiary received a comparably valued asset, but it was not rental property).  I stepped up the basis of the residential rental property on date of death (02/29/2020), reported rental activity on schedule E in the Estate 1041 for the months the estate operated residential rental property, and removed it from service on the estate return by showing a disposition date (11/02/2020) without a sales price.  Seem logical?

Labels (1)
0 Cheers
2 Replies 2
sjrcpa
Level 15

Yes


ex-AllStar
BobKamman
Level 14