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Storage building to support rental properties
I completed a schedule E/QBI for the income for my rental properties; however, I also constructed a storage building/warehouse on my personal property last year, 100% to support my rental property work, which is my main source of income.
I saw another post that suggested that such structures be 7-year assets, depreciated under Schedule C. Presently, I have all rental income and expenses listed under the Schedule E. Should I do a separate Schedule C just for the storage building asset, leaving the Schedule E intact?
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‎April 15, 2025
7:00 AM