Discussion:Single Purpose Agricultural Structure

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Discussion Forum Index --> Tax Questions --> Single Purpose Agricultural Structure


Ralph.hooper (talk|edits) said:

9 January 2007
Is a feedlot considered a single purpose agricultural structure and therefore eligible for the section 179 deduction?

PJLCPA (talk|edits) said:

9 January 2007
See 2006 publication 225, page 38 to see if your feedlot fits these qualifications.

FarmTax (talk|edits) said:

10 January 2007
yes it would be.....OR...if it was constructed using Government EQUIP cost sharing.... then some of the income could be excluded.....rather than expensing the asset purchased.

FarmTax (talk|edits) said:

10 January 2007
Excludable.... IF the new assets were for conservation or wildlife and of no economic value.

Newtaxman (talk|edits) said:

27 December 2007
I would like to expand this thread to include Tobacco Barns.

1. Is a tobacco barn (no processing facilities included) considered 1245 property and therefore deductible under S179?

Qbcpa (talk|edits) said:

12 October 2008
CA storage (controlled atmosphere) for fruit (apples, pears, etc) - is it single purpose agricultural structure?

I worked for a CPA firm years ago that worked with a lot of orchards. I can't remember the details but I remember 'something' happening that made all the partners excited about deducting ca storage as single purpose agricultural structures. I have been away from the ag industry for a long time and now cannot locate any evidence to support this tax treatment. I don't know if it was a court case, law change. This was about 9 years ago.

Can anyone shine some light on this?

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