Depreciation rules for farm and ranch property have been on a roller coaster ride over the past decade. The long-established depreciation rules were supplanted by the Accelerated Cost Recovery System (ACRS) in 1981, then the Modified Accelerated Cost Recovery System (MACRS) in 1986 and now a slow-down beginning in 1989 for property used in a farming business.
Harl, Neil E.
"Depreciation of Farm Property,"
Agricultural Law Digest: Vol. 1
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol1/iss4/1