Steel Build Purchase 100% for home Business, How do I Depreciate?

[Rixter002]

I Purchased and built a steel building on my property 100% for my home business?  I file schedule a C..  How do I depreciate the cost of the building?  I can't find any details on how to depreciate this purchase, as it seemingly doesn't fall under any of the categories for large purchases that I can find as explained in TT. (What Asset Category).  It is nonresidential real estate, even thought it is built in my residential back yard?

Thank  you!

[Mike9241 · Accepted solution]

us it movable or permanently affixed

movable 15 years straight-line MACRS

permanent 39 years straight-line MACRS (business resal estate) same life as a home office.  some taxpayers use 27.5 years for home office but because it's business-related the IRS says 39 years.

[Vanessa A · Accepted solution]

Commercial buildings (non residential real property) are depreciated over a 39 year period using the straight line method. 

[Rixter002]

Thank you so much,

Can I also start using this space as my home office, for the home office deduction, by adding the square footage to my total home square footage and calculate the usage of this building?

[Rixter002]

Thank you so much,

Can I also start using this space as my home office, for the home office deduction, by adding the square footage to my total home square footage and calculate the usage of this building?

[ColeenD3]

Yes. If the mortgage, property taxes, and utilities cover both your residence and the other building, you will have to prorate the square footage.