We converted a barn to run our dog business from and it required us to add plumbing, electric, septic, ac, framing, drywall and paint. Where do we enter these costs? I am in the Business Assets section and the only options I see are to select Computer/Telecom equipment, Tools/Machinery/Furniture, Real Estate Property, and Intangibles, Other Property.
Also, can we deduct or depreciate the barn itself? It was already on the property when we bought it in 2023.
