Solved

Foreign rental property with no property tax bill

Forum|Forum|7 years ago
June 1, 2019
1 reply
0 views

I purchased a rental unit in china. They don't have property tax or insurance record. How do I input the land and improvement value in Turbotax? Thanks

TurboTax Deluxe Windows

Best answer by PatriciaV

If you are unable to determine an allocation of your purchase price between the rental unit and the land, you may set the land value at zero. Unless the property is located on a large tract of land, the major value is most likely in the rental unit itself.

PatriciaVAnswer

Employee

If you are unable to determine an allocation of your purchase price between the rental unit and the land, you may set the land value at zero. Unless the property is located on a large tract of land, the major value is most likely in the rental unit itself.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"