I have a rented property in a foreign country. The property was rented out before 2024, but since I became a Greencard/resident in 2024, I have to report the income I earned from in 2024.
I was wondering if "Alternative MACRS Straight Line" and "30" years asset life is the correct selection? I get different results saying I need to choose "40" asset years and mix results when choosing a depreciation method because it's a foreign rental property. What are the correct selections?
