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Deductions & credits
You should add up all of the construction costs and figure out what you paid for the whole building. Then enter it into TurboTax as new business property with a 50% business use. All the expenses become 50% deductible except for any direct expenses (such as buying flower seeds, etc.) that are directly attributable to the flower business. And you'll depreciate the half of the barn she's using.
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‎April 3, 2023
9:21 AM