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Updated over 5 years ago,

User Stats

360
Posts
78
Votes
Les Jean-Pierre
  • Investor
  • New York City, NY
78
Votes |
360
Posts

Inherited Property and Depreciation

Les Jean-Pierre
  • Investor
  • New York City, NY
Posted

Hi, I know the rule is if a person inherits a property there is a stepped up basis for capital gains purposes. Does the same rule apply to depreciation? The property in question is purely a rental and would stay that way. Would the person inheriting the property be able to start the depreciation clock over and at a current FMV for the property in question? Thanks

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