- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Things for foreign rental property depreciation have changed significantly for 2018 and beyond with the tax law changes from the TCJA passed by congress.
Foreign residential rental property placed in service in 2017 or before is depreciated over 40 years. But if placed in service in 2018 or after it's depreciated over 30 years. As of the date of this post TurboTax still has not updated the TurboTax 2018 program for this. So if you placed foreign residential rental property in 2018 or after, then you flat out can not use TurboTax at all and have no choice but to seek other avenues for completing and filing your 2018 tax return.
‎August 5, 2019
6:43 AM