100% Bonus Depreciation--farm building

[Super Mom]

I have a farm building and think that qualifies for the 100% bonus depreciation increasing any loss because I think that farm buildings are 20 years. Am I right?

[Super Mom]

Opinions are much appreciated, the material I read seems to say yes I'm right, but is just doesn't feel right!!!

[AJsTax]

20 years or less

Any NEW asset depreciated under Macres with a life of 20 years or less is eligible for the 50 or 100% bonus depreciation. Actually you have to opt out to not take it on the return.
So yes, a new farm building is eligible.

[Super Mom]

Thanks, the 2nd opinion will mean more sleep tonight!!!

[Jiggers]

And a third agrees that the farm building qualifies for the bonus depreciation, as long as it is a new building. Buying a farm with a farm building does not qualify because you are not the original user of the building.

[Super Mom]

Thanks again, it is a new building!