@Kbichard Since a drinking water well is a Rental Real Estate Property asset (Land Improvement), you can depreciate it over 15 years.
New depreciation rules for 2020 allow for 100% bonus "expensing" of assets that are new or used.
Click this link for more info on Depreciation of Business Assets.
[Edited 4/14/2021 | 1:49 pm]
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