I"m as farm boy, former farm owner and retired IRS agent/accountant-still tax preparer. You need to give your tax preparer/CPA the best info you can: feet of fencing/approximate age/condition, size and approx. age of grain bin. Tiling is tough without good maps. Go to the local tilers and ask if they"ve done work or have maps. Take a look in the Spring after the tile are running (no good for this year) and look for dry areas, with wet areas above the tile lines, mark and measure (aerial photo?). Tiling prices for new tile depend on size and depth. You can depreciate it so long as you are a farmer or landlord and use the bins & fencing for business-not personal uses. You are entitled to depreciate the fair marker value-not new cost. FMV is a pretty vague term: means what 2 parties agree on to buy/sell, both knowing all factors (ie-not fraud or other deception). Tax preparer will assign "tax" life, depending on the tax code allows. You need to prove your case as best you can in an audit-contrary to belief, most IRS Agents & Auditors are reasonable people ;-)
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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