sjrcpa
Level 15
09-06-2023
04:03 PM
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II think, but am not sure, that if you elect to capitalize carrying costs (IRC §266), you elect to capitalize all of them. No picking and choosing.
Also, this election is usually used for property that will be developed or flipped. Not sure it is applicable to pre-farming.
Sounds more like start up costs to me. Or investment expenses. How far off is to "eventually farm?
The more I know the more I don’t know.