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Forum: USA

Jan 6th 2018, 5:07 am

Replies: 7

US Tax: Depreciation on leasehold rental property in UK

Views: 1,482

Posted By mrken30

Re: US Tax: Depreciation on leasehold rental property in UK

I was thinking that the land in a condo purchase is like a long term lease, but you own the building. You pay HOA fees , similar to paying ground rent on a leasehold property. But I agree...

Forum: USA

Jan 5th 2018, 9:22 pm

Replies: 7

US Tax: Depreciation on leasehold rental property in UK

Views: 1,482

Posted By mrken30

Re: US Tax: Depreciation on leasehold rental property in UK

I don't think leaseholds are very common in the US. The closest is probably a condo.

Forum: USA

Jan 5th 2018, 8:25 pm

Replies: 7

US Tax: Depreciation on leasehold rental property in UK

Views: 1,482

Posted By mrken30

Re: US Tax: Depreciation on leasehold rental property in UK

Maybe a lease could be treated in a similar way to a franchise. A lot of leases holds have an option to renew at the end of the lease.

Forum: USA

Jan 5th 2018, 7:19 pm

Replies: 7

US Tax: Depreciation on leasehold rental property in UK

Views: 1,482

Posted By mrken30

Re: US Tax: Depreciation on leasehold rental property in UK

Use turbo tax and it will help. Overseas property is depreciated over 39 years not 27.5. This may have changed in the tax reform. I know commercial has gone from 39 years down to 25 years.

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