Fence – Section 179 Deduction?

I installed a fence on land that I lease out for grass/cattle (reported on Schedule E as passive income). I thought that I qualified for a Section 179 deduction (take 100% depreciation).  However, Pub 946 and 225 have an exception: 

 

Generally, you cannot claim a section 179 deduction if you lease the property to someone else. This rule does not apply to corporations.  IRS Pub 946

 

Since I lease the land out and I am not a corporation, my fence does not qualify for special depreciation? I will end up depreciating over 7 years and report on Form 4562, Part III MACRS?

 

Am I missing anything?