Solved
Depreciation on rental property with a stepped up basis
I have multiple trust that have allocations for Rental Income and Expenses.
The surviving spouse passed on 03/31/22. Most the properties get a stepped up basis as of the date of death( 03/31/22)
I adjust the prior basis to the higher stepped up basis, but what do I do with the prior depreciation ?"
Thank you for your help
Scott Bonelli
