Using the Home and Business Edition -
- Click on Business
- Click on Business Income and Expenses
- Click on I'll choose what I work on
- On Rental Properties and Royalties (Sch E), click the start or update button
Follow the interview for the Rental Properties and Royalties. On the screen Is This a Rental Property or Royalty? select Rental Property. Indicate that the Location is a Foreign Country. Complete the page and continue. Follow the interview until you are on the screen Is Your Property in Any of These Designated Areas? Select Assets for this property are located outside of the United States or United States possessions and All of the assets for this property are located outside of the United States or United States possessions and continue.
After entering the rental property costs there will be the screen Depreciation Results. The screen will show the amount of depreciation to be taken over the next 40 years. Continue with this section until it completes.
