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Level 2
posted Mar 30, 2022 10:00:13 PM

Can I claim Foreign property depreciation Cost and what is the calculation for the property in service before 2018?

Assume I have two properties and one is non rental unit and another one is rental? Total value of the property in dollar for  depreciation calculation?

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1 Replies
Expert Alumni
Mar 31, 2022 12:12:57 PM

You need to report rental income on the unit that is rented and you can depreciate the cost of that unit against the rental income. If it is a residential rental, it will be written off over 27.5 years.