I am a crop farmer, not an ag. tax expert. I have never heard of such a thing. The only deductible expense I know of in purchasing land is the interest on any loan. The value of buildings and bin on the land I bought most recently is insignificant compared to the land. It was pattern drained by hand with tiny clay tile every 50' . What value do you put on that? If I could have expensed or depreciated a replacement value on all the tile here I could have claimed more than I paid for the place, and gotten the land thrown in for free! Is uncle Sam going to swallow that? What am I missing here?
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Today's Featured Article - Oliver 550 Clutch Overhaul Tips - by Greg Sheppard. I got my 1964 Oliver Model 550 (serial 141-139-519) second-hand and used it for several years before the clutch began to slip. After taking up the pedal linkage several times I saw it was going to take more than that. The engine had been leaking oil at the rear seal and I suspected
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