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A foreign rental was set up by mistake at 27.5 year depreciation schedule instead of 30 year. How to change it?

foreign rental depreciation schedule
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1 Reply
MaxA1
Employee Tax Expert

A foreign rental was set up by mistake at 27.5 year depreciation schedule instead of 30 year. How to change it?

Go to Wages and Income, then Rentals, Royalties, and Farm.  Revisit Rental properties and Royalties and go through the interview questions to make sure your answers are correct.  Revisit the depreciation expense and clarify that your property isn't foreign.  Here's a helpful link that gives more information on rental properties; Where do I enter income and expenses from a rental property?

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