Question
Is 100% Bonus Depreciation allowed on a new 20 Year Life Farm Barn
The barn is new for 2020 and is used 75% for vegetable farming purposes and 25% personal. Is 100% Bonus Depreciation allowed on this new barn and is a 20-year 150DB depreciable life correct?
Also, the farmer does not need to use the entire 100% of the depreciation available this year - can 50% or 30% bonus depreciation be elected instead?
