Investors & landlords

Yes, you can enter the storage building as a rental asset. You can enter the cost as 100% and then enter your rental percentage when asked the business use percentage. This is considered nonresidential property.

When you add the asset be sure to add the date you placed in service for this rental activity and select that it was also used for personal purposes then enter 45% where indicated.

• Rental home > Edit > Asset > Add an asset, you must select 'Other Property' (bottom) > Continue > Select Other >
• Asset Class select 31.5 or 39 year Nonresidential > Depreciation Method is Straight Line.

See the images below for assistance.