Foreign Property Depreciation

Forum|Forum|6 years ago
April 3, 2020
1 reply
18 views

I am preparing a Sch E with foreign rental property. As I understand, the foreign property should be depreciated using the ADS under 30-year life and It should come on line 20c Section C on Form 4562. Anyone knows how can I achieve this result. TIA

ProConnect Tax Online

This topic has been closed for replies.

Best answer by itonewbie

Don't mention it!

The reason is that you did not check the box for Alternative depreciation system (ADS) on the Auto & Additional Info. tab.

itonewbie

Level 15

PTO does not have a toggle for properties used predominately outside the US. Select 27.5 Yr residential property as usual for Method and enter 30 for Life or class life (recovery period automatic). The depreciation will then show up on the line for 30 years.

---------------------------------------------------------------------------------Still an AllStar