Burke Posted April 4, 2020 Report Share Posted April 4, 2020 Research of IRS capitalization rules tells me a fence is considered a land improvement. This category is depreciated over 15 years. However, when I input it on the Fixed Assets schedule it is "bonusing" the entire amount in 2019, even though I have checked the Election to NOT use Bonus Depreciation on 15-yr property. Do you know why this is happening? I don't want to expense it this year! Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted April 4, 2020 Report Share Posted April 4, 2020 I just tested it and it worked for me. Try closing and reopening the return to see if it recalculates. Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted April 4, 2020 Report Share Posted April 4, 2020 1 hour ago, Burke said: This category is depreciated over 15 years. Fences used in a farm or ranch operation can be 7 year property. Quote Link to comment Share on other sites More sharing options...
Burke Posted April 4, 2020 Author Report Share Posted April 4, 2020 THANK YOU, ABBY! I had no idea you had to check that in Global Settings. I thought the check-off on the Election form in the return would do it. Makes sense now that I think about it. Obviously, this has never come up before and I have been an ATX user for many, many years. It worked just fine. What you don't know will kill you. & DANRVAN. (Although this is not farm/ranch property). Good to know, however. 2 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted April 4, 2020 Report Share Posted April 4, 2020 Happy to help! Quote Link to comment Share on other sites More sharing options...
Catherine Posted April 6, 2020 Report Share Posted April 6, 2020 Not at all an answer - but in reading the thread title quickly, my brain turned it into "depression of defenestration" and I thought someone was so tired of being inside they wanted to jump out the window! 3 Quote Link to comment Share on other sites More sharing options...
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