I have a client that inherited a cooperative apartment. The property is being rented. I have been provided with the appraised value on the date of death. Should a percentage of the appraised value be allocated to land? or is the appraisal value used at 100% depreciable?
Ellyn A. Sosin, CPASosin & Kriegel, LLP3000 Marcus Avenue - Suite 2E4Lake Success, NY 11042off 516.570.4600 ext 221fax 516.352.5216