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Investors & landlords
You can enter Income/Expenses for your Foreign Rental Property in TurboTax the same way you would a US property. If you have a Rental Loss, it can be used to offset other income on your return.
The only difference you will encounter is the type of depreciation you are required to take when it is foreign property. It will need to be depreciated over 40 years instead of the normal 27.5
Claim a Deduction for Foreign Tax paid on your Foreign Rental Income in the Foreign Tax section under 'Deductions & Credits'.
Click this link for more info on Foreign Rental Income.
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March 2, 2022
7:09 PM