Thank you for your reply! I agree that should be proper thing to do. However, can I just start to claim depreciation from 2019 with Turbotax? I read somewhere allowable or allowed depreciation will be recaptured upon sale regardless I claimed or not. Also, I think I will have enough foreign tax credit to offset any US tax liability for capital gain from the sale anyway. I have always had enough foreign credit, so never paid extra tax for the rental income on 1040.
What would be the easiest and most effective tax saving way for me? Any more advice?
