L.S. Posted February 5, 2009 Report Share Posted February 5, 2009 Have a farmer, Sch F. Put down concrete flooring by his barn for his cattle - would you depreciate as real property with sub asset of 3 for 20 year property? Also bought farm machinery. Would this be asset F with sub asset of 9 for 7 year farm equipment or asset A with sub asset of 8 for 7 year fences, grain bins & equipment used in Agriculture? Thanks. Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted February 5, 2009 Report Share Posted February 5, 2009 I would probably depreciate the flooring as A) Agriculture, 9) Single purpose structure which gives him a 10 year life. The farm machinery I would depreciate as A) Agriculture and 8 for a seven year life. Just my opinion. Quote Link to comment Share on other sites More sharing options...
OldJack Posted February 6, 2009 Report Share Posted February 6, 2009 >>Single purpose structure which gives him a 10 year life<< I question that classification as I don't believe this meets the definition. I read the original post as "concrete flooring BY his barn" not in a barn. This might be better considered or described as "drainage facilities" or considered a part of the barn improvements. Maybe find out more specifics from the farmer. Quote Link to comment Share on other sites More sharing options...
mdmcfarland Posted February 6, 2009 Report Share Posted February 6, 2009 Generally if concrete is poured BY a barn for cattle, it is being used as a feed floor. It keeps the cattle out of the mud when eating. Quote Link to comment Share on other sites More sharing options...
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