How has the section 179 expense deduction changed for farming?
An exception to the $25,000 limitation was provided for property placed in service during 2008 and 2009 for persons who were actively engaged in farming. However, this exception no longer applies. For Wisconsin tax purposes, for taxable years beginning in 2010, persons who are actively engaged in farming are limited to the section 179 expense deduction of $25,000. The phase-out threshold is $200,000.
