Inheriting a rental property
Varies
Can You Write Off Inheriting a Rental Property?
Short answer: Your basis steps up to the value at the date of death, so depreciation restarts on that value and past depreciation isn't recaptured.
Get an appraisal as of the date of death.
Records to keep: Keep leases, receipts, a log of repairs vs improvements, mileage to the property, and closing statements.
BW-B23-01708
medium risk
Inheriting a rental property
Varies
Real Estate / Landlords / Property Managers / Agents
Rent & Facilities
Rental Property Write-Offs
Your basis steps up to the value at the date of death, so depreciation restarts on that value and past depreciation isn't recaptured.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
Your basis steps up to the value at the date of death, so depreciation restarts on that value and past depreciation isn't recaptured. Get an appraisal as of the date of death.
Category
- Rental Property Write-Offs
rental property
search demand 2026 b23
rental income
buying selling rental