Ian Bryzek, CPA
How do you establish basis for an inherited multi-unit property?
A duplex or small apartment building needs a property file that separates units, income, and improvements.
A building may contain a family unit, tenant units, garages, and shared improvements with different histories.
The tax records must reflect the actual use of the property rather than treating every square foot as a single home.
What to gather
- Appraisal describing all units
- Rent roll and leases
- Prior depreciation schedules
- Unit-by-unit improvement invoices
- Utility and expense allocation records
Who usually handles what
- Ian can organize the tax reporting question and the supporting records.
- James Valdez can provide an independent residential fair-market-value appraisal.
A practical next step
Map each unit's use and gather the prior rental records before allocating costs.
When a property value is part of the picture
When residential real estate needs a supported fair market value as of a relevant date, an independent appraiser may be part of the documentation process. Ian does not determine fair market value.
Related guides
This is general tax information, not tax or legal advice. Outcomes depend on the documents, ownership, timing, and law that apply to the particular facts.