Posted 11/26/2018 06:53 (#7128117 - in reply to #7127913) Subject: RE: NEBR about to get a property tax gift from farmers
C IL
Cornstalk1 - 11/25/2018 21:52
New federal tax law makes you show the purchase price not boot price. You will then show the trade as income. No problem right. EXCEPT when you mail in your capital purchases to the assessor, it will be assessed at the full purchase price. Welcome to Nebraska folks.
Unhappy long term issue.
Also, consider the benefit of depreciating the entire purchase price and the SE tax savings.
NEBR about to get a property tax gift from farmers
