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marycbrennan — Tue, 04 Jun 2019 23:58:08 GMT

The IRS lists the depreciable life of a fence as 15 years...

TomK — Tue, 04 Jun 2019 23:58:09 GMT

The IRS lists the depreciable life of a fence as 15 years. When did you purchase the property? As for the FMV of the fence, what would it cost to replace the fence with a similarly built one?

E.g., suppose the fence would cost $1,200 to replace it & you bought the property 5 years ago. $1,200 / 15 = $80 depreciation/year. 5 yrs x $80 = $400. $1,200 - $400 = $800 FMV

I realize that this may be a simplified example, but I ho...

TomK — Tue, 04 Jun 2019 23:58:11 GMT

I realize that this may be a simplified example, but I hope it will help give you some kind of idea in how to proceed.