IRS Section 180 Questions.Answers.Concerns.
IRS Section 180 allows for depreciation of tile, buildings, etc... This is commonly known. However what is not commonly known or practiced is the allowance for depreciation of EXCESS fertility.
How it Works
What is the ASM Labs process? A Guide
ASM agronomists analyze and map soil test results over aerial imagery, using robust mapping software.
Why you should use IRS 180 in your farm planning.
To the right, you will see the specifications, benefits and recommended best actions from ASM Labs.
- Only available to the buyer side
- Parcel purchased using either purchase price allocation or traditional, per acre purchase price methods.
- Soil test prior to first fertilizer application of new ownership
- All soil test data available for fertilizer and time recommendations, as well as GPS data.
- Agronomists compiling reports are Certified Crop Advisers.
- Current fertilizer prices could equate to high per acre value, resulting in potential tax savings.
Agricultural Soil Management LLC, makes no representations regarding the income tax implications or other use of Excess Soil Fertility opinion of value information and does not provide legal or accounting advice. Consultation with a tax and/or financial advisor is recommended.