USA Buying out partner in a commercial building.

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Feb 25, 2015
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My partner and I owned a commercial building which we rented to our S-corp. We split the income and expenses on our 1040's. Recently I purchased the building from her. How do I handle the depreciation? We bought the building years ago for 400,000 and it was appraised at 1.2 million when I purchased her share last year.
 

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