Date of this Version
Sand, S. “What is IRS Section 180 and How Does it Work?” CAP Series 23-1102, Center for Agricultural Profitability, University of Nebraska-Lincoln, Nov. 9, 2023. DOI: 10.32873/unl.dc.cap021.
With recent land purchases, some are asking questions to learn more about IRS Section 180 and how it may provide tax deductions in the year of purchase. Let’s explore more about this tax code.
What is this code, you may be asking yourself, and what may it have to do with the purchased ground?