Upon starting my woodworking business i spent 6500 on a new roof for the shed I do the woodwork and some office work. Where do I deduct that?

[SabrinaD2]

The $6,500 spent on a new roof for your woodworking shed is considered a capital improvement and should be depreciated over its useful life, typically 39 years, using IRS Form 4562. You may also consider a section 179 deduction or bonus depreciation to deduct a significant portion of the cost in the year it was placed in service.

Follow detailed instructions at this link to enter business assets/capital improvements (select TurboTax Online or Desktop based on which version you are using):

Here's a summarized version of the TurboTax Online steps:

1. Open or continue your return and go to business expenses.
2. Answer "Yes" to having self-employment income or expenses.
3. On the self-employed work summary screen, select "Review" or "Add another line of work."
4. Follow the on-screen instructions to enter your self-employment details.
5. Select "Assets" on the expense categories screen and continue.
6. Answer the questions about additional expenses and select "Keep going."
7. On the Expenses screen, select "Edit" next to the Assets category.
8. Answer "Yes" to buying or owning depreciable assets related to the business.
9. Answer "Yes" to buying items costing $2,500 or less in 2024.
10. Follow the on-screen questions about each item you bought.
11. If you bought items for $2,500 or less, enter them in the Expenses section.
12. If you didn't buy such items, answer questions about building improvements.
13. If you made building improvements, follow instructions for the Safe Harbor Election for Small Taxpayers.