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The Farm CPA

RSS By: Paul Neiffer, Top Producer

Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.

What is a Farm Building?

Jan 07, 2011

We had a reader ask the following question:

"WHICH BUILDINGS ON A FARM QUALIFY AS AG SPECIFIC BUILDINGS OR STRUCTURES FOR THE BONUS DEPRECIATION, IS THERE A LIST SOMEWHERE."

The law basically says that all farm buildings other than single purpose agricultural or horticultural structures are 20-year property and available for the 100% bonus depreciation.  This would include hay sheds, machine shops, etc. 

There is not a list, however, since single purpose structures automatically qualify for 100% bonus depreciation, all farm buildings will qualify for bonus depreciation (other than your house, etc.)

Therefore, the bottom line is that any NEW farm related building on your farm will be available for 100% write off during 2011.

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