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Level 2

Depreciation period for overseas rental condo

TT is using a 30 year period for depreciating my rental condo overseas. It should be done over 40 years. In the Profile for the property I show that it is oversas and  enter the overseas address as well (with country selected from the drop down menu, etc). Whay may I be doing wrong?

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Level 15

Depreciation period for overseas rental condo

The tax code changed with the Tax Cuts & Jobs Act of 2018. Foreign residential rental real estate placed in service ***AFTER*** Dec 31, 2017 is depreciated over 30 years.

 

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Highlighted
Level 15

Depreciation period for overseas rental condo

The tax code changed with the Tax Cuts & Jobs Act of 2018. Foreign residential rental real estate placed in service ***AFTER*** Dec 31, 2017 is depreciated over 30 years.

 

View solution in original post