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| There is no dollar threshold. A capital (depreciable) item is one that prolongs the life of the tractor. Tires are technically capital items, but 99+% of farmers expense them. If I were to depreciate every tire, I might have a 300 item depreciation schedule. With the very high 179 thresholds, it's a distinction with little meaning, even if you are audited as it would not change the tax owed. If 179 drops to $25,000 next year, IRS will start paying attention again. | |
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New tracks write off question ?
