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February 15, 2021
Question

Could someone help me guide how to change the depreciation life from original setting (27.5 years default setting) to 40 years of my rental property?

  • February 15, 2021
  • 1 reply
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1 reply

ColeenD3
February 16, 2021

You would indicate that it is a foreign rental. That will give it 40 years of depreciation.

 

The useful life is 40 years for property placed in service before 2018 and 30 years for property placed in service after 2017 for Foreign Rentals.