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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