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Forum: USA

Feb 12th 2019, 3:58 pm

Replies: 31

UK Property Depreciation

Views: 18,451

Posted By mrken30

Re: UK Property Depreciation

If you have a mortgage, make sure you are aware of the capital gains incurred for FX gains made from the loan. I am assuming it was not a USD mortgage, but taken in GBP.

Forum: USA

Feb 12th 2019, 3:55 pm

Replies: 31

UK Property Depreciation

Views: 18,451

Posted By mrken30

Re: UK Property Depreciation

Section 179 of the tax code allows landlords to immediately expense up to $1 million of new or used appliances in 2018 ($510,000 for 2017).

Forum: USA

Feb 12th 2019, 2:48 am

Replies: 31

UK Property Depreciation

Views: 18,451

Posted By mrken30

Re: UK Property Depreciation

The answer is yes but there are limitations. I would suggest looking for CPA that knows how to manage foreign rentals. If you want to use software, turbo tax premier can handle overseas properties....

Forum: USA

Jan 31st 2019, 9:19 pm

Replies: 31

UK Property Depreciation

Views: 18,451

Posted By mrken30

Re: UK Property Depreciation

At Federal level this is true, but there are some limits. At State level, this may or may not be true, depends on the State.

Forum: USA

Mar 13th 2018, 7:07 pm

Replies: 31

UK Property Depreciation

Views: 18,451

Posted By mrken30

Re: UK Property Depreciation

There was talk of changing the depreciation term for foreign property from 40 years to 25, I am not sure if that went into the new legislation. That only applies to new purchases , I would think. You...

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