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previous page Previous Page: Publication 225 - Farmer's Tax Guide - 25% Limit on Deduction
next page Next Page: Publication 225 - Farmer's Tax Guide - Sale of a Farm
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication
taxmap/pubs/p225-024.htm#en_us_publink100073262

Choosing To Deduct(p30)


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previous topic occurrence Deduction next topic occurrence

You can choose to deduct soil and water conservation expenses on your tax return for the first year you pay or incur these expenses. If you choose to deduct them, you must deduct the total allowable amount in the year they are paid or incurred. If you do not choose to deduct the expenses, you must capitalize them.
taxmap/pubs/p225-024.htm#en_us_publink100073263

Change of method.(p30)


rule
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If you want to change your method of treating soil and water conservation expenses, or you want to treat the expenses for a particular project or a single farm in a different manner, you must get the approval of the IRS. To get this approval, submit a written request by the due date of your return for the first tax year you want the new method to apply. You or your authorized representative must sign the request.
The request must include the following information.
Due date
Send your request to the following  
address.

Department of the Treasury 
Cincinnati Submission Processing  
Cincinnati, OH 45999


previous pagePrevious Page: Publication 225 - Farmer's Tax Guide - 25% Limit on Deduction
next pageNext Page: Publication 225 - Farmer's Tax Guide - Sale of a Farm
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication