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How do I allocate improvement expenses for a separate structure?
We purchased the house beside ours (4 feet away) in October 2021 to be used for business. It needs a lot of improvements (electric, plumbing, cleaning, painting) before we can move the business out of our home. So I still need to claim home office as 100% for 2021.
How do I set up the "separate structure" to expense the improvements made in 2021? 100% of these expenses are for the business, not part of our home. So are the utilities for that building.
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‎April 17, 2022
8:55 PM