I am entering rental property (foreign if that matters) for the first time. I have been claiming SL depreciation of 27.5 years. When I enter all the details in TT following the advice to use Intangible / Other Assets it gives me $0 expense and no depreciation method.
Details: Cost $31,297; purchase date 01/01/2015; 100% business usage; asset class = 27.5 (Residential); useful life 27.5 yrs; prior depreciation $6,781.
TT calculations $0 expense; years to depreciate: 27.5; MACRS convention: MM; Depreciation Method: <blank>
Am expecting depreciation expense to be $1,138
