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R
RSA
Level 2
September 21, 2022
Question

basis of rental property

  • September 21, 2022
  • 1 reply
  • 13 views

If an individual who owned a rental property 50% with another individual buys out the other person at the fair market value, how do depreciate the addition to your basis?

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1 reply

sjrcpa
sjrcpa
Level 15
September 21, 2022

First - are the two parties related?

If not, I would add the half as a new asset(s) and depreciate accordingly.

The more I know the more I don’t know.
    R
    RSAAuthor
    Level 2
    September 21, 2022

    They are not related. Ok thanks

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