### Question
How is the term depreciable farm property defined?


### Answer
The term **depreciable farm property** is defined in *26 U.S.C. § 144* as the following:

> property of a character subject to the allowance for depreciation which is to be used in a trade or business of farming

#### Citation:
  - *26 U.S.C. § 144*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART IV-TAX EXEMPTION REQUIREMENTS FOR STATE AND LOCAL BONDS > Subpart A-Private Activity Bonds**

