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Level 7
June 14, 2023
Question

Husband-and-wife partnership of real estate rentals; husband dies, son takes his place. How to recalculate depreciation

  • June 14, 2023
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1 reply

qbteachmt
Level 15
June 14, 2023

Son takes his place, how?

You have two different things in your question:

Partnership (a real entity, or are you using the phrase relationally).

Real Estate (partnership asset, or owned by two individuals, and now a different individual inherited based on tenants in common title, or all of it now is owned by the spouse as JTROS).

Operation is one thing. Ownership is a different thing.

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