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Updated over 7 years ago,

User Stats

37
Posts
5
Votes
Jared MontBlanc
  • Investor
  • Pleasant Hill, CA
5
Votes |
37
Posts

5 acres with Grapefruit trees - deductions?

Jared MontBlanc
  • Investor
  • Pleasant Hill, CA
Posted
So I have the potential to purchase a property with 3 units on 5 acres, which includes a ton of fruit trees that are taken care of by outsourced farmers (small check to owner). Apparently the big thing is the tax benefits of owning the orchard, which he was able to deduct $400 per tree. My question here is that apparently he can only do this for 15yrs or so and his time has run out, so he's selling. Can I buy the property and get the same tax benefits even though the trees are now old? I tried to find this online but couldn't determine. Thanks Jared

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