On Farming expense I built a new barn what section of schedule f would I claim this under

[AmyC]

A barn is an asset. You will enter your expenses to build the barn for the basis. A farm building is usually depreciated over 20 years. Follow these steps:

1. Answer yes to assets
2. Answer no to $2500 or less, I am sure the barn cost much more
3. Continue to Describe this Asset

• If it is a single purpose structure, you select the first option. Barns are hard to qualify as single purpose so that may not be correct for you.
• You may need to choose the last option and go through those questions. You will select 20 year depreciation.

Reference: Publication 225 (2024), Farmer's Tax Guide