I purchased 3.5 acres of unimproved land a few months ago for my business. Since then, I had the entire property fenced in at a cost of $20,000. Is that considered an asset as land improvement, or can I expense the entire amount?
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I purchased 3.5 acres of unimproved land a few months ago for my business. Since then, I had the entire property fenced in at a cost of $20,000. Is that considered an asset as land improvement, or can I expense the entire amount?
The fence is an improvement that has a useful life of more than 1 year. Therefore, it should be depreciated.
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