Hi, I have a foreign rental condo in Canada that I purchased in 2014 as my personal home. I moved to the US in Feb 2019 and began to rent out this apartment. I am confused about how I should be depreciating this asset. Last year when my taxes were professionally filed, it was the first year that the apartment was being rented and for depreciation it was assumed to have a life of 39.5 years using a half year method under the Alternative Depreciation System. When I go to enter my information in Turbotax this year, it gives me a recovery period of 27.5 years. Can someone please explain what the correct depreciation should be and also what happens if the recovery period changes this year from last? Turbotax is not letting me adjust the 27.5 years. I know that the depreciation differs based on US versus foreign property and if put into use before 2018. Any help would be much appreciated.
