Investors & landlords

Yes, there is a remedy. TurboTax does know the correct calculation however there is a question that may have been missed in your entry of the property. When you are entering the address there is a check box 'Foreign Country' that must be selected. Once this happens, the 30 year ADS depreciation will kick in for you.

To enter your rental:

1. Open or continue your return.
2. Navigate to the rentals section:
   • TurboTax Online/Mobile: Go to rentals.
   • TurboTax Desktop: Search for rentals and select the Jump to link.
3. Answer Yes to the question Did you have any income from rentals or royalties?
4. On the next screen, Let's see if you're a real estate professional, select any options that apply to you.
5. On the screen What are you here to report?, select Rental property and Continue.