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crs5
Level 2

Transpose home Garage into a shop

I transpose my home garage into a full service garage.  Going to open a brake service. I spent money on remodeling the garage to include car lifts racks, tools, compressors, etc.   Essentially, we park the home cars on the outside.  How do I claim the expense for equipment and for remodeling?

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1 Reply
OpeA1
Employee Tax Expert

Transpose home Garage into a shop

One requirement for the home office deduction is that you regularly use a part of your home exclusively for conducting business.

 

The link is useful guide:

https://ttlc.intuit.com/community/business-expenses/help/what-does-regular-and-exclusive-use-mean/00... 

 

If this is a business to you, you can file a return with income and expenses from the business on your return. Please see the IRS link : https://www.irs.gov/businesses/small-businesses-self-employed/recordkeeping 

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