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Investors & landlords
Yes, it looks like $2995 is for a full year of depreciation. However, if it was placed in service July, then you will need to depreciate from July 15 since all foreign property is depreciated using the mid-month convention. You would need to use the days remaining in 2015/total number of days in 2015. In this case, 169/365 (not sure if 365 or 366 days in 2015). So in this example (169/365)($2995)=$1387.
Whatever the partial depreciation is in 2015, this will be added to $14,975 to get the true total depreciation amount that has accumulated since you placed your foreign property in service.
[ Edited 03/09/22|10:48 AM PST]
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March 8, 2022
3:41 PM