abctax55
Level 15
01-22-2025
08:06 PM
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Schedule F indicates - being used for business....
That is then business property so 39 years is correct.
IF it's being rented out, but not being used on the FARM it goes on Sch E and is residential rental so 27.5 years would be used.
If I had $ 10 for every time I've seen OIH depreciation using 27.5 instead of 39 years (yeah, it's a house, but it's used for *business*.... I'd buy a used Delorean.
HumanKind... Be Both