I built a shop in my backyard for my lawn care business. How do I take this deduction?

Forum|Forum|7 years ago
June 1, 2019
2 replies
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I filling out my Turbo Tax now and can not find the right place to enter my deductions for building a shop in my backyard. I have a lawn care business and this is for keeping my equipment stored and maintained. I did most of the work myself on the shop.

TurboTax Home & Biz Windows

Anonymous

When items are purchased for a business, a decision is made whether it’s an expense that you deduct all of the cost now, or you deduct the cost over multiple years (depreciation).

If the building cost less than $2,500 you might be able to expense it as an Other Miscellaneous Expenses.

How do I do this with TurboTax? This is a two-step process:
The first step:

Go to the Assets / Depreciation area. The first screen will ask: Did you buy any items that each cost $2,500 or less in 2018? It’s asking about any items that you haven’t entered yet as expenses.
If you say Yes, here’s the next screen:
We ask a couple of questions and if you say Yes they both apply to you, we ask if you want to take the election to expense items costing $2,500 or less. If you say Yes to that question, TurboTax will add the De Minimis Safe Harbor Election form to your tax return.

The second step: