Building for business

[Ts2006]

I built a 2800 square foot building for my business at my new home 2022 last year before moving this year 2023 Jan and started using it as my primary business space this year. How do I claim the space for business use? 

[PaulaM]

By this year do you mean you started using your new building for your business in tax year 2023? If so, add the building to the asset section of your business and depreciate. 

[Ts2006]

Yes I started using it in January 2023 so I will claim it for the first year this year. So claim it as an asset, and depreciate not home office expense? 

[AnnetteB6]

Yes, since it is a separate structure built for your business you would claim it as an Asset instead of a home office.  

If it had been an addition to your home, then it would make more sense to claim it as a home office.

@Ts2006