If you're entering your foreign rental property you may see that your rental depreciation shows as 40 years for properties placed in service after 2017.
Who is impacted?
You're affected if:
- You have a foreign rental property.
- The property was placed in service as a residential rental property in 2018.
- Your asset summary shows 40 years to depreciate.
- Your depreciation method is other than ADS.
- The date placed in service is within 2018.
- The asset category is residential rental.
You aren't impacted if your rental was placed in service in 2017 or earlier.
This error was resolved in a recent update to TurboTax on 8/28/19