Depreciating Cattle

[Rox]

What is the proper classification and MACRS code for depreciation of breeding cattle?

[TaxGuyBill · Accepted solution]

Have you looked at Publication 225?

Table 7-1 shows the Recovery Period for various farm assets.

https://www.irs.gov/pub/irs-pdf/p225.pdf#page=44

[Rox]

Yes, 5 years and 179 eligible. In ProConnect is this category "Miscellaneous'? Nothing else seems to fit.

[George4Tacks]

Category has no impact on the tax return. It is there solely to help present a depreciation report that might match a balance sheet: e.g. Building, Land, Furnishing, Vehicles, Computers, ...  YOU CAN LEAVE IT BLANK.  Blank takes up less paper, if you are printing.