Land does not have a defined useful life, making it nearly impossible to account for depreciation. Its value may either rise or fall over time, depending on different factors. For instance, a real estate boom can push up land prices, while an environmental catastrophe can decrease values. The assets on land, like buildings, qualify for depreciation.

Even though land cannot be depreciated, some improvements you make have a definite life and will count as depreciation items. Examples of land improvements include paving a driveway, fencing, outdoor lighting, or even filling a wasteland with soil to make it usable.

You may also write down the value when there is evidence of degradation by natural or unnatural causes. For example, an earthquake hits and devastates an area, or mining activity that completely exhausts resources.

"I know it can't be depreciated, but some how it feels like it should be deduc"

Why do you think it should be deductible?  Are you thinking there is something special about farming or something special about the dollar amount?

@bglissontts 👍the tax book deluxe edition and Deluxe supplement are excellent reference material for farming.

Got any fruit bearing trees or vines on it?

Just a money tree.  But you don't want to over water it or the bills will get soaked and ruined.

@Jim-from-Ohio  "Even though land cannot be depreciated, some improvements you make have a definite life and will count as depreciation items."

Likewise, some improvements that were already there, like fences, drainage tiles and paving, can be depreciated if you allocate some of the purchase price to them.  

"I know it can't be depreciated, but some how it feels like it should be deduc"

You are confusing cash flow and expense.

Your taxpayer invested in the land. Their money still exists. It is right there in the land. There is nothing to deduct, because nothing was spent. When you spend money (an asset) on land (an asset), nothing changed except the asset type.

That's why it is not deductible.

Depreciation is "consideration in the tax code for wear and tear until that asset wears out" which is why land also is not depreciated. As noted, there can be loss due to destruction of value or existence of the land (flood, landslide), and any separate parts (buildings, crops, etc). But the earth abides, Dude.