Question
farm depreciation section 179 deduction -> Depreciate livestock. How many years?
Recently, I was looking at the farm tax filing, and according to 179 deduction, it said you can depreciate horse, cattle, hogs..... fur bearing animal). I want to know how many years u should use for deprecation? by their average year of living? what happen if an animal die early? u take a loss?
5 months ago - 1 answers
Best Answer
Chosen by Asker
If you *don't* use section 179, you depreciate over the class life of the animal. Typical breeding animals have a class life of 7-10 years. (You don't depreciate animals that are raised to be sold.) If the animal dies, you show the loss.
by v b
5 months ago
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