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Do I need to recapture depreciation on dead fruit trees?
I bought a fruit orchard in Dec 2014 that had 1000 trees. I depreciated the trees using SL - 10 year life for 4 years. In July 2018 650 of the trees died due to a heat wave (no federal disaster declaration). I gave up and In Nov. 2018 sold the farm for a small loss. Do I need to recapture the depreciation on the dead trees?
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‎June 3, 2019
11:37 AM