Central North Carolina | I don't believe the land would have a step up in basis but the tile would be valued at market and the next owner could depreciate again as a land improvement, much like a fence. I will do some research. Edit: it is not a land improvement for a farmer (it is for others), it is basically considered equipment. It can be depreciated by the heirs but the sec 179 could not of course be used again as it was not a purchase.
Edited by Douglas 12/16/2015 13:53
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