Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

basis of rental property

RSA
Level 1

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?

0 Cheers
2 Comments 2
sjrcpa
Level 15

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.
RSA
Level 1

They are not related. Ok thanks