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Subject:  Re: Buying the other half of a rental property Date:  10/5/2012  12:57 PM
Author:  vkg Number:  116739 of 130714

Is the purchase at fair market value?

If it is then the sale is easy, your daughter reports the sale on her income tax, and it is a purchase to you. Her recaptured depreciation and capital gains are no concern to you.

I am not going to venture into how you handle the new purchase. It would seem reasonable to have two separate depreciation schedules, but logic doesn't always apply to taxes.
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