In 2018, Jed James began planting a vineyard. The costs of the land preparation, labor, rootstock, and
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In 2018, Jed James began planting a vineyard. The costs of the land preparation, labor, rootstock, and planting were capitalized. The land preparation costs do not include any nondepreciable land costs. In 2022, when the plants became viable, Jed placed the vineyard in service. Jed wants to know whether he can claim a deduction under § 179 on his 2022 income tax return for the 2018 costs for planting the vineyard.
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Related Book For
South Western Federal Taxation 2023 Comprehensive Volume
ISBN: 9780357719688
46th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young
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