Hi,
I would like get some advice on foreign rental depreciation. I have a foreign rental property purchased in 2017 and made some renovation before I put in rental in 2017. The house itself and renovation cost have been depreciated by 40 yrs ADS during the past few tax season using turbo tax. In 2021, I made some other renovation and incurred some cost that I need to start depreciating in 2021. when I started file my 2021 tax, turbo tax uses 30yrs depreciation life for the renovation costs incurred in 2021. I am wondering if the renovation cost incurred in 2021 should be depreciated with 40 yrs or 30 yrs life? even the house itself will still be depreciated with 40yrs life.
Any help is very appreciated
