I put a deposit/downpayment on a Wick Machine shed of $8,000 in Dec 2019. Building will start in Feb of 2020. What can I deduct for 2019?

[DaveF1006]

is this used for a business? If not, you can't deduct it at all. If used for a business, you will start reporting it in 2020, once it is built and you start using it for business, You will take all costs spent in construction materials, labor, sales tax, building permits etc and add these all together.  This becomes the depreciable basis in your property and is used as a basis to begin taking depreciated expense in your taxes.  It is what we in the tax business call a Depreciable Asset.