Solution-Income tax return for the costs

Income tax return for the costs

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Reference no: EM13330923

In 2009, Jed James began planting a vineyard. The cost of the land preparation, labor, rootstock, and planting were capitalized. The land preparation costs do not include any non-depreciable land costs. In 2013, when the plants became viable, Jed placed the vineyard in service. Jed wants to know whether he can claim a deduction under section 179 on his 2013 income tax return for the costs incurred in 2009 with respect to planting the vineyard.

Can someone please let me know if there are deductions that he can claim?

Reference no: EM13330923

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Income tax return for the costs : Jed wants to know whether he can claim a deduction under section 179 on his 2013 income tax return for the costs incurred in 2009 with respect to planting the vineyard.

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Income tax return for the costs

Reference no: EM13330923

Reference no: EM13330923

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