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Status Answered
Created by AgExpert Support
Created on Feb 23, 2013

Disqus Agexpert Accounting Questions Archive

How would you go about entering a mobile home as an asset? I don't believe you can add them under any Class of buildings. 

  • ADMIN RESPONSE
    Feb 10, 2025

     Hi Md12

    The biggest question that you need to ask yourself when deciding what to do with your mobile home is "Is this home my primary residence?".

    If the answer to this question is Yes, then you cannot add the item into your system.  It is considered a personal asset with no tax consequence to the farm.

    If the answer is No, then you can go through the process to set up the asset in the appropriate class number.  Most buildings such as this will be considered Class 1 or Class 6 (refer to your accountant for that determination).  Both of these classes are set up by AgExpert by default.  You can click on Setup > Capital Assets, and add the asset into the appropriate class.

    I hope this helps you out!

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