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Where do I deduct constructions costs of a completely separate building exclusively used for my home business?

Started a home business in 2022.  Built a separate building on my land and paid cash (no loan).  Would like to know what constructions costs can I deduct and where on Schedule C do I put the cost of the structure?
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2 Replies
Carl
Level 15

Where do I deduct constructions costs of a completely separate building exclusively used for my home business?

Your construction costs are not deductible "per-se".  Instead, the cost of the structure gets entered as an asset in the Business Assets section and the cost is depreciated over 39 years.

 

Where do I deduct constructions costs of a completely separate building exclusively used for my home business?

Yes you did.  Thank you! 🙂

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