I owner occupy a two family home and my current garage is in need of replacement. I bought a steel building kit with accessories for around $11,000. New garage will not be put up until spring or summer of 2019. This building is used to store equipment to maintain the property as well as personal use. I took a five year loan on the garage in the fall of 2018 and am making payments. Where would be the most appropriate place to enter this? I'm guessing it's a depreciated asset, but do I enter in the full amount of the kit, or just what I've paid in payments so far?
