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Can I depreciate land?

Bookkeeping & accounting basics

No. Land does not wear out, so it has no recovery period and is not depreciable.

Buildings and improvements on the land are. When property is purchased together, the price has to be allocated between land and building, and only the building portion is depreciated.

We handle this for founders running US companies.

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Check your EIN confirmation letter (CP 575) first. If that is gone, look at a previously filed tax return, a business bank account application, or any 1099 you have issued. Your bank or your payroll provider will also have it on file.

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