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Deductions & credits

Racehorse are 3-year property. They are depreciated the same way as any other asset. Pub 946

 

  1. 3-year property.

    1. Tractor units for over-the-road use.

    2. Any race horse over 2 years old when placed in service.

    3. Any other horse (other than a race horse) over 12 years old when placed in service.

    4. Qualified rent-to-own property (defined later).