Farm client installed drain tile on farmland which is a 15 year asset qualifying for Section 179. I get a diagnostic saying invalid method for Sec 179. Previous answers indicate check the box for qualified leasehold improvements, which certifies that it is a 39 year property. this isn't 39 year property entered with method code 87. It is 15 year property entered with method code 66. How do I enter this to get the sec 179 deduction?
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I agree 15 year https://accountants-community.intuit.com/articles/1607327-depreciation-methods code 66 or 67
IRC 179 should work. I did a quick test and it did. If you have problems, give more specifics. Be sure 179 is not being limited by income.
I agree 15 year https://accountants-community.intuit.com/articles/1607327-depreciation-methods code 66 or 67
IRC 179 should work. I did a quick test and it did. If you have problems, give more specifics. Be sure 179 is not being limited by income.
As of 2/14/20 still gives a fatal error when Sec 179 is used with code 67 asset. Alternative is to use code 91 (straight line) with a life of 15 yrs.
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