Do I expense a bull purchased for my farm in 2018. How do I expense that purchase?

[TomK · Accepted solution]

If the cattle are for draft, breeding, or dairy purposes and you did not include them in inventory then you can depreciate them as assets.  This is done in TurboTax under the Farm Assets section.  Depreciating the cattle allows you to deduct a portion of their purchase cost each year.

Please see screenshots below for an example.