Price Check Deprceiation on a 2008 Kubota BX25

[check]

Hi, guys, I need to figure out how much my 2008 Kubota BX25 with FEL, BH, and 3-pt. hitch depreciated each year, for income tax purposes.

I will be able to use a standard Tax Dept. formula of 30% depreciation per year after about 3 years out (when I started to use it to earn income), but I need to have a realistic value as of the 3-year mark.

So, any ideas would be much appreciated. The tax folks here in Canada will let me depreciate it a whopping 30% from the end of year 3, but of course right at year 3 it was worth much more than the new price of $20k (otd), depreciated to ((($20K*.7)*.7)*.7) = $6860. I am thinking more in terms of about $15K after 3 years.

Anyone care to chime in here?

Thanks,

James

 

[CHDinCT]

Don't know about Canada, but here in the US, dealers have a tractor blue book to quote trade in and retail values. You'd have to have a dealer look it up for you, as far as I know. Never seen a publicly available version of the blue book like for autos. Good luck.

 

[My Hoe]

Subscribed...I might have something on The Blue Book. No time now, but will try soon.

My Hoe