I have a client who husband was a partner in a campground.  ( 2 partners, 50% each)   He passed away in 2014 and the wife inherited his share of the partnership.   The FMV of the property at the date of death was  848,540.   The depreciated basis in the property at the date of death was 201,777.

Am I correct that the wife's new partnership basis/capital account back in 2014 should have been stepped up to 1/2 of the FMV at the date of death?   ($848,540/2)

In 2020  the wife sold her share of the partnership to the other partner.   This sale would be reflected on the wife's 1040 return with the cost basis being her ending Capital Account balance at the time of the sale?  

The partnership should be final since now there is only one owner and the remaining partner now reports this activity on a 1040 return.  

Thank you in advance