Quote Originally Posted by Roland Slugg View Post
It's always a good idea to actually READ the facts stated in someone's OP. In this case the OP states that the property's FMV was $125k as of H's DOD. It then goes on to say ...

The year involved was 2009, and in 2009 real estate values were in free-fall in many parts of the country. Accordingly, when the W started renting the property, there is a good chance its FMV was lower than it was on H's DOD, and if it was, then the basis rules for calculating both depreciation and loss, as stated in my first two posts above definitely do apply.

Yes I saw that. I don't know all places in country, but despite values going down, they weren't falling that fast anywhere that I know of (28% in less than a year, perhaps just a few months). That is why I agreed that Kram is [probably] correct.