I am looking for which form to use for storage spaces in a 45x65 building that I rent out spaces, expenses and depreciation on our purchase.

Forum|Forum|3 months ago
April 15, 2026
1 reply
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what form to use to rent on storage units?

TurboTax Online

DianeW777

Level 15

This type of rental is considered 'nonresidential real property' which should be reported on Schedule C. The depreciation recovery for nonresidential real property is 39 years. Check the rules for Qualified Section 179 Property (IRS Publication 946) to see if your property qualifies for a special deduction.

You can elect to treat certain qualified real property you placed in service during the tax year as section 179 property. If this election is made, the term “section 179 property” will include any qualified real property that is: Qualified improvement property, as described in section 168(e)(6) of the Internal Revenue Code; and Any of the following improvements to nonresidential real property placed in service after the date the nonresidential real property was first placed in service.
- Roofs.
- Heating, ventilation, and air-conditioning property.
- Fire protection and alarm systems.
- Security systems.

If you are using TurboTax Desktop or TurboTax Online you can use the steps below:

Search function in the upper right and type Schedule C. Click on the Jump to.. link
This will bring you to the screen 'Here's the business info we have so far'.
Select Edit beside your business and then scroll to Business Expenses, Assets, etc. to begin your entry.