Depreciation History

[GTS1101]

I have a new client who has owned a home for over 30 years. She said she last rented it out over 10 years ago but she has no records or copies of those prior year tax returns. None of the depreciation history has been carried forward. She has rented out a few different times over the last 30 years. Old records cannot be obtained from tax preparer as she does not know who did the taxes 10 years ago. What do I do about depreciation? Leave it off? Try and get copies from IRS although I doubt they have 10 years ago or the history or cost basis used when first rented or the accumulated depreciation. Do I just start new depreciation for 2011? What do I do if the property is sold in the next couple of years. What cost basis would I use if I don't know the depreciation history.

Thanks!

GTS1101

[Burke]

If she can give you the years and approx durations of rental periods you might be able to reconstruct a facsimile of depreciation. That's about the best I can think of. Did she move back into it? See the rules about depreciation prior to May 5, 1997. It may not matter if it was before that. (I think that was the date.)