The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: bought forest property||Date: 2/14/2013 8:15 PM|
|Author: ptheland||Number: 117771 of 123001|
OK - with the additional info that this is going to be personal use property
1) can I depreciate this land.
No. Land cannot be depreciated.
2) I pretty sure I can depreciate or expense the improvements. things like seeds, soil, trees, etc...
Not exactly. They'd get added to the cost of the land. You eventually benefit from these costs when you sell the land.
3) do I add