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countrybug
April 16, 2025
Question

can I expense a stock trailer purchased for farm use?

  • April 16, 2025
  • 1 reply
  • 0 views
Can a trailer purchased for farm use be added to expenses?

    1 reply

    D
    DavidD66
    April 16, 2025

    The trailer would be an asset that you capitalize.  You can take bonus depreciation or Section 179 expense, but you need to set it up as an asset.  Exception, if it cost $2,500 or less you can expense it if you the de minimus safe harbor election.  See What can I expense or depreciate with the business safe harbor election?

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