Do I need to report foreign rental property income?

[rogersamways2]

I own three properties in the UK which are rented out

[Carl]

Yes, you absolutely do. When entering each property in Turbotax, pay attention to detail and make absolutely certain that you select the checkbox to indicate that it is foreign rental property. Otherwise, your depreciation will be wrong.

Domestic rental property is depreciated over 27.5 years.

Foreign rental property placed in service *BEFORE* 2018 is depreciated over 39 years.

Foreign rental property place in service in 2018 or *AFTER* is depreciated over 30 years.

[rogersamways2]

Many thanks Carl - that’s really helpful!