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foreign rental property depreciation 30 yrs vs 40 yrs

I saw this link and it's clear: https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-foreign-rental-pro...

 

However, I don't know how I can select the fact I have a foreign property. I feel Turbotax only accept US based rental property as even if my address is based in Europe, I still have a 27.5 depreciation.

 

Any help would be appreciated

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1 Reply
DaveF1006
Expert Alumni

foreign rental property depreciation 30 yrs vs 40 yrs

When you begin working on your rental property section of your return, there is a screen that asks if this is a rental property or Royalty.  In this section, you would indicate this is a foreign country and list the address where it is located.

 

As you prepare your entries, there will be a screen that appears asking you if your property is in any of these designated areas. You will indicate that the assets are located out of the US both at the top of the page and at the bottom. Note, leave the box unchecked where it says none of the above. 

 

Once you complete this section, the depreciation should reflect either 40% or 30%, depending on when the rental house was placed in service.

 

 

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