For foreign rental income what does the question mean - Is your property in any of these designated areas?
I am confused with the first choice - Assets for this property are located outside of United States or US possessions
021313
1 Best answer
Anita01
New Member
Jun 3, 2019 1:43:02 PM
It means the property and/or land is physically located anywhere outside of the US or US possessions (such as Guam, Puerto Rico, etc... ) This question is asked because depreciable foreign assets are depreciated at a different rate then US assets
2 Replies
Anita01
New Member
Jun 3, 2019 1:43:02 PM
It means the property and/or land is physically located anywhere outside of the US or US possessions (such as Guam, Puerto Rico, etc... ) This question is asked because depreciable foreign assets are depreciated at a different rate then US assets
anud2017
New Member
Jun 3, 2019 1:43:03 PM
So for foreign property I need to select this choice always. Thanks