Can we deduct the cost of digging a pond on our small farm? We don't make much $ off of it, usually just sell some hay/calves. It's not our primary source of income.
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Can we deduct the cost of digging a pond on our small farm? We don't make much $ off of it, usually just sell some hay/calves. It's not our primary source of income.
Can we deduct the cost of digging a pond on our small farm? We don't make much $ off of it, usually just sell some hay/calves. It's not our primary source of income.
That can be listed as an asset ...call it "land improvements" and it is a 15 year property for depreciation.