A gentleman wants to "farm" pine trees, taking depreciation on the trees and upkeep expenses. He can't do this, can he? Also, I have been searching for the asset classification charts on the IRS site, and found one in Pub 225 for farmers. I know that I have previously seen a more complete one somewhere. Does anybody know where to find it?
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Just when you think you've heard them all....
Depreciate pine trees? If he's raising them to sell (pulpwood or lumber) no depreciation.Originally posted by rjholmes View Post
But now that I think about it, I wonder how such pines are treated if "farmed" for
tupentine products, like down in Waycross Georgia?
But the usual tree farm, trees are grown for eventual harvesting.ChEAr$,
Harlan Lunsford, EA n LA -
Interesting
He can't depreciate the "farm" land. The trees in question would then be his inventory, I suppose, which you still can't dereciate.
Jade!!Comment
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Nobody
said anything about "dereciating" land, which we all know is.........Originally posted by Jade06 View Post
Inventory? I think not.ChEAr$,
Harlan Lunsford, EA n LAComment
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