gravel would be a 15 year land improvement right?
How can I avoid the bonus depreciation?
How can I avoid the bonus depreciation?
-
-
If the gravel is for a driveway or something like that, yes, it would be a land improvement.
If you want to NOT take the 50% Special Depreciation Allowance, you need to "elect out" of it. Your software should have a check-box or something to do that in the depreciation section. -
Ok, will look for that checkbox---didn't know if there was a special formComment
-
Land Improvement
Agree with TaxGuyBill. Additional input, if you made other land improvements and opt-out of Bonus depreciation, ALL land improvements will be affected by the election. Also, make sure your election to opt out of bonus is specific to the class-life, in this case 15-year property.Comment
-
How much? And was it used to "repair" a road on the farm?Jiggers, EAComment
-
No, it was paid to gravel a driveway for a non farm business. This is the only land improvement (15 year item) they had this year.Comment
Comment