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If you bought yearling heifers in 2016 to breed next year, you should add them as depreciating assets when you place them into service as breeding stock which would be 2017. You can include all your 2016 expenses incurred raising the heifers on your 2016 tax return. But by the book, you would begin depreciating the cost of them in 2017. Great question!
If you bought yearling heifers in 2016 to breed next year, you should add them as depreciating assets when you place them into service as breeding stock which would be 2017. You can include all your 2016 expenses incurred raising the heifers on your 2016 tax return. But by the book, you would begin depreciating the cost of them in 2017. Great question!
If December 2017 purchased heifers weren’t able to breed until June 2018 are they considered 100% or 50% business use for the year 2018? Do you use 1/1/18 for business use start or 6/?/18 for business use start date? I don’t have the exact breeding dates for all of them.
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