Few have forgotten the provision in the Tax Reform Act of 1986 requiring the capitalization of preproductive period expenditures for animals or crops having a preproductive period of more than two years. The provision was repealed as to animals in the Technical and Miscellaneous Revenue Act of 1988. However, problems may now be encountered by those who elected out of the provision before 1989.
"Capitalizing Preproductive Period Expenditures,"
Agricultural Law Digest: Vol. 3
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol3/iss13/1