Foreign Rental Property: Depreciation, Currency and Form 8938

A rental abroad goes on Schedule E like any other rental, with three differences. The building is depreciated over 30 years under the alternative depreciation system, not 27.5. Every figure must be translated into dollars. And the property itself is not reported on Form 8938, though a foreign entity holding it is. A rental abroad goes on Schedule E like any other rental. Three things change — the depreciation schedule, the currency, and who has to tell the Treasury about it. CHAPTERS 0:00 It is still a Schedule E rental 0:46 The 30-year rule almost everyone misses 1:52 Translating the currency 3:00 Property taxes: two different answers 3:52 The foreign tax credit and the passive basket 5:16 Form 8938, FBAR, and what actually gets reported FREE TOOLS → Income Tax Projection: https://suryapadhiea.com/income-tax-p... → Book a consultation: https://suryapadhiea.com/contact/ THE WRITTEN VERSION https://suryapadhiea.com/foreign-rent... MORE IN THIS SERIES https://suryapadhiea.com/video-librar... Surya Padhi, CPA, EA — Sure Financial and Tax Services LLC Certified Public Accountant · IRS Enrolled Agent · Certifying Acceptance Agent Hillsborough, New Jersey · 908-955-0696 · contact@suryapadhiea.com https://suryapadhiea.com This video is general tax education and does not constitute individualized tax, legal or financial advice. Figures are stated for tax year 2027 and are subject to IRS adjustment. Consult a qualified professional about your own facts. ``` *Tags:* ``` foreign rental property, schedule e, alternative depreciation system, form 8938, fbar, foreign tax credit, form 1116, currency translation, expat taxes, international tax, cpa, enrolled agent