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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1 Best answer

Level 1

Jun 3, 2019 10:13:20 AM

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

Level 1

Jun 3, 2019 10:13:20 AM

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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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.