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?
021229
2 Replies
Carl
Level 15
Mar 26, 2023 11:52:20 AM
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.