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Additional special depreciation
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11Buster
Level 4
09-28-2021
05:40 PM
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Can an company take the additional 100% first year special depreciation when purchasing an orchard that already is already nut producing, or is it based on the subsequent-to-purchase cost(s) of planing and grafting future crops?
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1 Comment 1
qbteachmt
Level 15
09-28-2021
05:58 PM
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You've got three topics running today, just on depreciation, but under the section for using Lacerte. Not under Tax Talk. Perhaps it would help to pick up some online or self-study courses and make reference to IRS materials on Depreciation, so that you can study it in depth as applicable to the clients for whom you are working:
https://www.irs.gov/publications/p225#en_US_2020_publink1000218075
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