Marge Posted April 12, 2007 Report Share Posted April 12, 2007 Yes I am still doing a big farm acct.. yuk for this time of year. This person has a gigantic loss this year even without putting in the new farm equip he bought in 06. Do I have to use 7yrs 150 db or may I use SL 10Yrs to spread it out a bit. This person has a carry forward NOL also and prob won't need the deprec for a couple more years anyway. Please is this allowed or not? Thank You very much Quote Link to comment Share on other sites More sharing options...
Marge Posted April 12, 2007 Author Report Share Posted April 12, 2007 Yes I am still doing a big farm acct.. yuk for this time of year. This person has a gigantic loss this year even without putting in the new farm equip he bought in 06. Do I have to use 7yrs 150 db or may I use SL 10Yrs to spread it out a bit. This person has a carry forward NOL also and prob won't need the deprec for a couple more years anyway. Please is this allowed or not? Thank You very much THANKS TO KC I HAVE MY ANSWER ON THIS ONE !!!! Quote Link to comment Share on other sites More sharing options...
D Eckerman Posted April 13, 2007 Report Share Posted April 13, 2007 I would say yes to the sl, what did KC say? Quote Link to comment Share on other sites More sharing options...
Marge Posted April 13, 2007 Author Report Share Posted April 13, 2007 I would say yes to the sl, what did KC say? KC said yes too. Quote Link to comment Share on other sites More sharing options...
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