Leased Farmland expenses

[jmc]

A client leased (not owned) a farmland and incurred expenses in land clearing, building water supply & wall around.
How should the each expense be treated? Expensed, amortized (land improvement?), or just capitalized?
There is no assignment of lease rights later. If you know good sources of document, please refer. Thanks.

[DaveO]

I'm bumping this because I'm curious myself. I would think 20 years on the well and 15 on the wall. The land modifications would have to be capitalized and added to the basis, but of what? Can you have a leasehold improvment on land?

[jmc]

land improvement

I'm bumping this because I'm curious myself. I would think 20 years on the well and 15 on the wall. The land modifications would have to be capitalized and added to the basis, but of what? Can you have a leasehold improvment on land?

I just classified to Land Improvement with 15 GDS years, even if the client does not own but lease the land.