Potential client breeds pure bred Irish Brindel bull dogs. Can any new dogs purchased for breeding only be depreciated? also if so do they meet the requirement to be depreciated using sec 179?
thanks much
Kurly
thanks much
Kurly
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Livestock held for draft, breeding, or dairy purposes can either be included in inventory or depreciated as the farmer chooses.
I'd assume dogs held for breeding would be the same.
All livestock are considered to be tangible personal property and are therefore eligible for a depreciation deduction under Section 179. They are also considered qualified property for purposes of claiming the bonus depreciation.
And I found this article with google - don't you just love google!!
Mike -
I love it! And I will never forgive my stockbroker for telling me not to buy it at $100 because it was too expensive......Comment
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