jeffmcpa2010
Level 11
03-24-2022
09:41 AM
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When you get a step up basis, all prior depreciation goes away.
You just have Basis and can begin depreciation all over again, or have full FMV basis if there is immediate disposition.
It is just like you bought a different asset for FMV at the date of death, (well not quite, bonus depr. and section 179 MAY not apply to step up basis, I'd have to read up on that)