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jonescsp
New Member

I put in a farm irrigation system on my farm property. Is that considered an improvement to a building, or do I depreciate that somewhere else.

I put in a pressurized irrigation system in the ground on my farm property for use with a sideroll irrigation system for hay.  I plan to enter the sideroll as equipment purchased, but would the irrigation system underground be considered an improvement that can be depreciated?  

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kerriP
Level 1

I put in a farm irrigation system on my farm property. Is that considered an improvement to a building, or do I depreciate that somewhere else.

The irrigation system is considered an improvement to land and for farmers, it has a depreciable life of 15 years.  For more information:  see IRS PUB 946 on depreciation, see table B-1.

Depreciation

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kerriP
Level 1

I put in a farm irrigation system on my farm property. Is that considered an improvement to a building, or do I depreciate that somewhere else.

The irrigation system is considered an improvement to land and for farmers, it has a depreciable life of 15 years.  For more information:  see IRS PUB 946 on depreciation, see table B-1.

Depreciation

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