Depreciation of Fencing / Rental Property

[Burke]

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!

[Abby Normal]

I just tested it and it worked for me. Try closing and reopening the return to see if it recalculates.

[DANRVAN]

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.

[Burke]

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.     

 

 

[Abby Normal]

Happy to help!

[Catherine]

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!