Ask Experts Questions for FREE Help !
Ask
    Dilip0104's Avatar
    Dilip0104 Posts: 12, Reputation: 1
    New Member
    		  
    #1

    Oct 7, 2008, 08:45 AM
    Claiming Depreciation on Rental Property located outside United States
    Dear All,

    Hope you are doing good and many thanks for all your replies till date. Those had been very helpful for me.

    I have one more query... Can the depreciation be claimed on a Rental property located outside United States. If so, are there any conditions to be satisfied and is there any method to calculate the depreciation amount? If you can provide me the link or any site which provides information on the above, it would be very helpful.

    Thanks in advance!!

    Best Regards,
    Dilip.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Oct 7, 2008, 12:10 PM
    Yes, you can claim depreciatrion on rental property located outside of the U.S.

    You would use straight-line depreciation over 27.5 years as your default method.

    Other, faster methods MAY be available, but not likely.
    Dilip0104's Avatar
    Dilip0104 Posts: 12, Reputation: 1
    New Member
    		  
    #3

    Oct 8, 2008, 12:36 AM
    Hi,

    Many thanks for the reply. You have been very much helpful to all of my queries till date.

    Best Regards,
    Dilip.
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
    Tax Expert
    		  
    #4

    Oct 8, 2008, 11:17 AM

    Real estate located outside the U.S. must be depreciated on a straight line basis over a 40 year period. See Code §§ 168(g)(1)(A) and 168(2)(C)(iii). No faster method is available.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #5

    Oct 9, 2008, 07:19 AM
    40 years? That is patently unfair, but rather typical of the U.S. tax code.

    I yield to IntlTax's expertise on this issue.
    Dilip0104's Avatar
    Dilip0104 Posts: 12, Reputation: 1
    New Member
    		  
    #6

    Oct 10, 2008, 08:32 AM

    Hi,

    Thanks for the information and the IRC code for Intl Tax.

    Regards,
    Dilip.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #7

    Oct 11, 2008, 07:33 AM
    We are glad to help!
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Population of the united states [ 1 Answers ]

Hello... My question is: How is the population of the united states distributed? :confused:

United States Marines [ 4 Answers ]

Hey all, First of all, here is a little bit about me; I'm 19 years old, completed High School and went through one and a half years of college before dropping out and taking a break. It's not so much a break as it is the feeling that this is not what I want to do. So, I decided to drop and start...

Where are course on the United States Constitution [ 2 Answers ]

I am an American citizen and would like to learn more about the American Constitution. Where may I take a beginner's course in Bakersfield, California?

United states immigrants [ 2 Answers ]

:confused: what 3 things that immigrants have brought to the united states

United states constituition [ 1 Answers ]

Name the four ways in which the United States COnstituition has been developed since 1 789 and give an example of each.

View more questions Search