topic Can my business storage shed be claimed as office space deduction, even though it was claimed as an expense the year it was bought? in Deductions & credits

Can my business storage shed be claimed as office space deduction, even though it was claimed as an expense the year it was bought?

angela4javier — Tue, 04 Jun 2019 23:07:30 GMT

I'm self employed- landscape maintenance. I have a shed on my property I use to store my pesticides and fertilizers, and some business equipment, its used 100% for my business. I claimed the shed as an expense the year I bought it (2015). Am I able/allowed to deduct it as "office space", inventory storage space, or not, since it has already been claimed as an expense in the previous year?

No, if your storage shed is a separate structure (not par...

RichardK — Tue, 04 Jun 2019 23:07:31 GMT

No, if your storage shed is a separate structure (not part of your home) and you have already expensed it, you can't claim a deduction for the structure, click here for IRS publication 587 Business Use of Your Home, however you are allowed to deduct direct expenses such as utilities and other expenses directly attributed to the shed.

@TurboTaxRichardK Thank you!

angela4javier — Tue, 04 Jun 2019 23:07:33 GMT

@TurboTaxRichardK Thank you!

Re: Can my business storage shed be claimed as office space deduction, even though it was claimed as an expense the year it was bought?

Jlwilkins93090 — Tue, 14 Apr 2020 22:36:52 GMT

What do you mean by “you are allowed to deduct direct expenses such as utilities and other expenses directly attributed to the shed.”

As in electricity ran to it? Or what other expenses? Thanks for your time!

Re: Can my business storage shed be claimed as office space deduction, even though it was claimed...

AnnetteB6 — Mon, 27 Apr 2020 20:54:30 GMT

Yes, the previous answer was referring to expenses related directly to the shed, but that were not previously deducted when it was constructed. Electricity used by the shed is a good example since that would be a recurring expense year after year.

@Jlwilkins93090

Re: No, if your storage shed is a separate structure (not par...

hrhppg — Wed, 19 Jan 2022 21:23:03 GMT

What if you you haven't already expensed it, what would the option be then? Or how would you expense it.

Re: No, if your storage shed is a separate structure (not par...

RobertB4444 — Wed, 19 Jan 2022 22:14:30 GMT

@hrhppg It should either be expensed in the year that you bought it or depreciated over time beginning in the year that you bought it.

Here is an article on what to depreciate and when.