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Investors & landlords
Yes, you can deduct part of the cost of your storage unit.
You will need to make a reasonable allocation of your personal use and your business use of the unit. For example, if your overall use is half business and half personal, you can deduct half the monthly cost of the storage rental on your Schedule C. If your business use is only 30% of the total use, you can deduct 30% of the monthly rent, etc.
‎June 6, 2019
4:30 AM