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Override depreciation method

Have been using GDS (27.5 yrs) for foreign rental property depreciaion for 2 decades. Turbotax selects ADS but am allowed to use GDS because I was using it before the rules changed. How do I override?

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1 Reply

Override depreciation method


@Rathersailing wrote:

Have been using GDS (27.5 yrs) for foreign rental property depreciaion for 2 decades. Turbotax selects ADS but am allowed to use GDS because I was using it before the rules changed. How do I override?


 

ADS has been required for foreign property AT LEAST three decades, probably four decades.

 

It sounds like you have been depreciating it wrong for quite some time.  I suggest going to a good tax professional that is experienced with Form 3115 to correct depreciation errors like this.

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