Partnership basis and depreciation

[neallove]

2 person partnership owns land and building which are rented to tenant

Partner A dies and leaves his 1/2 interest to son. Son gets a step up in basis to fair market value for his 1/2 interest.

Is the depreciation on the new basis for the son allocated all to son or is it depreciation for the partnership?

[BHoffman]

I think the Sec. 754 election might apply.

Here is an interesting link:

http://www.taxacte.com/nl9611.htm#THE%20SECTION%20754%20ELECTION