Allan Burnham
New Member
- Jurisdiction
- California
My Mom & Dad own a residential rental property. They had fully depreciated it over 27.5 years. The property is included in their living trust but Title was never changed to the Trusts name. County records still show my Mom & Dads name on Title. My Dad died about 1 year ago. The question is can the basis be stepped up to the value at the time of Dads death? If so can my Mom start the depreciation again for 27.5 additional years on the stepped up basis?
Thanks, Allan
Thanks, Allan