Vineyard pre-productive period costs


D

Doin' the Math

New client planted vineyard 4 years ago, and sold first crop
in 2003. Prior CPA didn't file a Sch F for them in any of
those years. Shouldn't preproductive costs have been
capitalized and depreciated? He told them they couldn't
deduct anything until the grapes were sold. I don't read
Sec. 263A that way...help?
 
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