How is depreciation handled in a multi-member LLC if members have equal ownership but different costs basis?

3 partners are transferring their 1/3 share of an apt building into an LLC. The individuals have a different cost basis because of special elections and they each transferred a different cost basis into the apt building via separate 1031's. Does each member have their own depreciation schedule on their K-1?

Chosen Answer:
The partnership continues the existing depreciation schedules to determine the amount of depreciation to claim on the 1065. IRS pub 946.
by: a tax lady
on: 19th March

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