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Abstract

Since enactment of the Tax Reform Act of 1986, which enacted the Modified Accelerated Cost Recovery System (MACRS), questions have been raised about the proper recovery period for farm and ranch residences; the portion of the residence used for business purposes, such as for an office in the home; and the recovery period for residences on a farm or ranch which are occupied by individuals not associated with the farm or ranch operation. To date, no rulings have been issued or cases decided which would provide guidance as to recovery period beyond the general rules published in 1987.

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