Resolved: Foreign rental property depreciation at ... - Intuit Turbo Real Money Talk

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Resolved: Foreign rental property depreciation at 40 years instead of 30 for property placed in service after 2017

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

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