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Article Date:
January 2006


Word Count:
247

 

 

Who Owns This Property?


Using a life estate, my father deeded his rental to me in 1993. He passed away in July. I have been depreciating the repairs I made over the past 25 years. Also, since I will be getting a new basis in the property as of the date of my father’s death, do I have to or should I deduct depreciation based on this new basis? (T.T.G., Mesa, AZ)

 

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