I've specified a foreign rental property in the property profile but depreciation is calculated over 30 years when it should be 40. How can I update it to 40?
I've specified a foreign rental property in the property profile but depreciation is calculated over 30 years when it should be 40. How can I update it to 40?
With tax reform, the new asset life for a foreign residental real property is 30 years and 40 years for non-residential real.