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Author: 4thebird Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121144  
Subject: bought forest property Date: 2/14/2013 6:25 PM
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bought 59 acres and was wondering about several things:

1) can I depreciate this land.
2) I pretty sure I can depreciate or expense the improvements. things like seeds, soil, trees, etc...
3) do I add the cost of purchase for the lawyer and closing costs into the cost of the land?
4) I have a 10 year forestry plan cost $475 do I expense this for 10 years or just write it off at one year.

this is a new adventure for us. this is going to be interesting if nothing else.

I have 4 deer on the land. one of my friends said they were dependents. I found that kind of funny but expect the IRA would not be amused.

any publications that would be much help would be appreciated?
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