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Ilay
Level 2

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 Reply
ThomasM125
Expert Alumni

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

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.

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