It's possible for you to use TurboTax Full Service, and the link will explain how it works. The property is required to be depreciated for a longer period so most importantly you need to keep a record of the depreciation you have already used.
For 2024, you can and need to change it as it should be over the 40 or 30 year life, depending when you placed it in service.
Your property in a foreign country is depreciated over a 30-year or 40-year period, depending on when it was first placed in service for rental use. Instead of the 27.5 year for US residential properties the period is different.
- Prior to 2018, depreciation of foreign residential property was limited to 40-year period.
- 2018 and Future: New assets placed in service now get the lower 30 year period.
@sandra88
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