Carl
Level 15

Deductions & credits

@MangoTango just FYI, but foreign rental property place in service in 2018 and after is depreciated over 30 years. Whereas foreign rental property placed in service prior to 2018 is depreciated over 40 years. I assume your rental property was placed in service before 2018.

In last year's tax return, look at the form 4562 that prints in landscape format, titled "Depreciation and Amortization Report" to get the total depreciation already taken. Remember, you have to add together the amounts in the prior years depr. column and the current year depr. column, to get the total taken prior to 2023.

Also, if you have any suspended carry over losses from 2022, those will be on the IRS Form 4797 from that year's return.