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Old 02-09-2010, 10:56 AM
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section 179 depreciation

I would like to know if you can take the section 179 deduction on my farm schedule for used farm equipment (tractor), purchased and placed in service in 2009. The real question is new versus used equipment purchase. I thought to qualify for section 179 the equipment had to be purchased new, now I'm hearing used equipment qualifies. Is this true and when did it change? Thanks George



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