How do I depreciate a new irrigation well for farm...
New Member

How do I depreciate a new irrigation well for farm producing grains?

 
This widget could not be displayed.
Level 15

Get your taxes done using TurboTax

You'll enter that in the Farm Assets section. The program will work you through the correct entry of the asset, and set up the depreciation schedule based on the selections you make and data you enter. Note that when asked for the cost, the cost includes the installation labor too, if you actually paid someone (other than yourself) to install it.
This widget could not be displayed.
New Member

Get your taxes done using TurboTax

Water wells used in business have a recovery period of 15 years, use 150% DB.

Link is for IRS publication 225, see page 42;  

This widget could not be displayed.
Privacy Settings