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 - An AC Model M Crawler - by Anthony West. Neil Atkins is a man in his late thirties, a mild and patient character who talks fondly of his farming heritage. He farms around a hundred and fifty acres of arable land, in a village called Southam, located just outside Leamington Spa in Warwickshire. The soil is a rich dark brown and is well looked after. unlike some areas in the midlands it is also fairly flat, broken only by hedgerows and the occasional valley and brook. A copse of wildbreaking silver birch and oak trees surround the top si
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