When farmland is purchased, depreciation can be claimed on certain assets associated with the land.
In certain parts of the Midwest, above-average soil fertility is also eligible for expense deductions.
Roger McEowen of Washburn School of Law spoke with RFD-TV’s own Janet Adkison on what deductions producers should be aware of, what type of documentation needs to be kept and does it apply to land that is grazed.
