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?
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@irs.gov - Farmers Tax Guide Pub225 pages 38-39 What qualifies, what does not for Sec179
Edit - sorry you asked about bonus depr not Sec179 pages 41-46
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