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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?
posted
July 31, 2020
4:59 PM
last updated
July 31, 2020
4:59 PM
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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.
July 31, 2020
5:51 PM
276
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