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New Member
posted Jun 4, 2019 2:45:56 PM

Should I enter a farm expense of a new drainage field for the house under assets to be deducted over several years or just under other expenses?

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Expert Alumni
Jun 4, 2019 2:45:57 PM

This is an improvement to your property that must be depreciated as a capital expense (page 25, no. 9 under Capital Expenses).  Tile drainage systems have a property class life of 15 years. This is more commonly referred to as the useful life of the asset.

Farmer's Tax Guide: https://www.irs.gov/pub/irs-pdf/p225.pdf