I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

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I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

No, the cost of the shed cannot be claimed as a rental expense. It is an improvement and you can add the cost to the cost basis of your property.

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I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

Where do you list the cost basis of your property? Is that part of the tax forms?

I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

Yes it is part of the tax forms.

To enter the cost of your rental property it is part of the Rentals, Royalties, and Farm section under Wages & Income.

As you go through the section it asks about the value of the Property and when it was placed into service so it can calculate the Depreciation amount.

Link to Where do I enter income and expenses from a rental

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I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

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I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

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I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

I built a shed on my property, and I rent out rooms on the property. Can I claim any part of the money I spent on the shed?

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