Deduction

My farm continues to flood. I had rip rap placed to avoid losing land due to high waters. I obtained a permit for the project. Can I expense this cost? Or is there a special credit for doing this.

posted

No. See 2019 IRS Publication 225 Farmer's Tax Guide: page 47 includes permits with Section 197 Intangibles, which requires amortization over 15 years.

2019 Publication 535 Business Expenses page 31 also lists permits as a Section 197 Intangible.