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JamesG1
Expert Alumni

different property depreciation

When entering the rental asset in TurboTax Premium Online, you may be able to replicate the method used by the tax consultant by selecting Intangibles, Other property at the screen Describe This Asset.

 

Be advised that the software warns you to Only select this option if you are well versed in the concept and rules of depreciation.

 

At the screen Confirm Your Prior Depreciation, you may enter the Amount of Depreciation Taken in Prior Years.

 

See also IRS Publication 946 How To Depreciate Property.

 

@SG81_Stefan 

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different property depreciation

James, I found it.

Under the rental property info, it is not enough to input a foreign address.

On top, one needs to say "yes"  on the question "Reservation, disaster or outside US area". When doing that, the years to fully depreciate changes to 40.  Thanks all, Stefan 

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