Rental Property as a Gift

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  • Sparky
    Member
    • Jan 2010
    • 65
    #1

    Rental Property as a Gift

    Wanted to confirm; when a donor gifts depreciated real estate, form 709 list adjusted basis, not just donors basis. If however, donor dies with the property, the donee receives a stepped up basis and the depreciation goes away.
    Tags: None
    • taxea
      Senior Member
      • Nov 2005
      • 4292
      #2
      see: Thread: Gift of Rental Property or the one you posted in 2014
      Believe nothing you have not personally researched and verified.

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