Deducting Safety Fence

[Leigh]

I am installing a fence at my new home for the kids' safety ($8500). There is a "green space" (slough) in the backyard, and I worry about the water. Can I deduct the entire cost this year, or must I depreciate over 15 years? I know that if it were a home improvement it would have to be over time, but since it is for safety, I'm hoping we can do it all at once. Advice?

[Thriftylady]

I haven't studied my tax law in a few years. But generally something for that amount of money and is going to last as long as it will has to be depreciated. Usually it is a good thing to do that anyway, because otherwise you won't use the whole deduction, and will lose part of the benefit. You can always consult someone or if you feel like a good read, find the proper IRS publication .

[TomCopeland]

Fence

I am installing a fence at my new home for the kids' safety ($8500). There is a "green space" (slough) in the backyard, and I worry about the water. Can I deduct the entire cost this year, or must I depreciate over 15 years? I know that if it were a home improvement it would have to be over time, but since it is for safety, I'm hoping we can do it all at once. Advice?

Fences are considered land improvements and must be depreciated over 15 years.

[Leigh]

Thanks for the advice. I figured that, but thought MAYBE I could have found a way!