sjrcpa
Level 15

Most likely the trusts get a step up in basis to dod fair market value.

Depreciation claimed by the decedent(s) becomes irrelevant.

You're preparing 1041s, right?

Or did the trusts become irrevocable in 2023/2024 and the trusts claimed depreciation on 1041s?


The more I know the more I don’t know.
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