When working out depreciation for a foreign rental property, when do you take the exchange rate?

[roonieworld19]

 Do you take it at purchase, when entering the property into the US tax system or each year?

[Phillip1]

You need to convert all figures for foreign rental properties and income as US dollars. For the asset, you would use the exchange rate at the purchase date and the amount stays consistent through the period that your continue owning and renting the property.