Depreciating options on purchase of tractor for a farm, best location for information if to difficult to answer here.
I would like information on what options I have for depreciating of a tractor for a farm.
Strait line, ACRS, MACRS.
What is the best location to study to make a decision?
01128
1 Replies
John-H2021
Employee Tax Expert
Sep 30, 2021 10:53:16 AM
Hello Gene,
The best place to learn about depreciating a tractor used on you farm would IRS publication 225, Farmers tax guide.
There is specific information on depreciation and what method is allowed under IRS rules. Here is a link to the page in Pub 225 that explains depreciation.