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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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- Residential Rental Step-Up in Basis for Remaining useful Life.
Residential Rental Step-Up in Basis for Remaining useful Life.
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hmosbergea
Level 3
03-09-2021
09:10 AM
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Residential rental for 20 years. Spouse dies. Should depreciation change due to full step-up in basis (community property state) for remaining 7.5 years of useful life?
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1 Comment 1
TaxGuyBill
Level 15
03-09-2021
09:50 AM
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No, the step-up value restarts the Recovery Period (27.5 years).
