Vanessa A
Expert Alumni

Get your taxes done using TurboTax

You do not deduct the cost of a building.  A building is a depreciable asset.  So, when you start using it, you will start depreciating the building. You will include the $3,000 along with whatever more you paid this year as the purchase price part of the cost basis. 

 

How to Depreciate Property. 

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