should a farm field (just land) be depreciated for a simple rental?

just land being rented for a crop.

posted

No. Land is not a depreciable asset. You also cannot deduct the land as an expense, only improvements to the land. Land just basically sits on your books as an asset, but it does not have any affect on your taxes until you sell it.

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I have sold three properties from my rental property portfolio this year. Why is one of the three showing as a Section 1250 property, while the others are 1245 properties from an unrecaptured depreciation perspective.

in Investors & landlords

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