I have a part-time concrete coatings business. I built a pole building to store my equipment and materials. How should I claim the cost of the pole building?

[ValerieE · Accepted solution]

The pole building would be considered an asset.  Unfortunately, since this is not a farming business, you will use the Non-residential real estate classification which will depreciate the building over 39 years.

If you need help finding the asset entry section in TurboTax please see the following:

1.  While in your return select My Account and then Tools.

2.  In the Tools Center select Topic Search.

3. In the search box type, "assets bought, self-employed business"

4.  Edit your business.

5.  Scroll down to the "Business Assets" section.