FARM DEPRECIATION ?

[Marge]

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

[Marge]

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 !!!!

[D Eckerman]

I would say yes to the sl, what did KC say?

[Marge]

I would say yes to the sl, what did KC say?

KC said yes too.