Can you depreciate the existing tile on inherited farmland in a Trust? What if you Cash rent the land out to a tenant?
Can you use MACRS and report on 1040E?
What IRS code do you use and what form do you report the depreciation on?
Thank you!
Drainage tile?? Land improvements are depreciable and would be reported on Sch E...1041.... if rent is received by the trust in cash.
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