Does anyone know if the 5 year recovery period for certain farm equipment was extended? I would like the source for the answer. I have been hunting this morning and find out about this. Thank you for you help.
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Cindy Galford, CTD
Greentown Tax Service -
Don't think so
Cindy I'm reading from TTB 9-8 and it lists "Agriculture machinery & equipment grain bins, etc. as 7 yr property." I don't have access to the electronic version which may have been updated in late December after the printing, but maybe someone else can look at that and see if the 7 yr classification was changed. -
The 5 year for farm equipment was in the extender bill. If you google, you will get some cites.
MaribethComment
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I don't think so. The CCH summary said yes. It is not mentioned in TTB summary of the extender.Originally posted by Maribeth View Post
Also, it is not mentioned in the Senate Finance Committee summary.Jiggers, EAComment
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