Bought a commercial building December of 2017, made three payments on it. Where do I put this in my taxes? Should I be putting this in my taxes?

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Bought a commercial building December of 2017, made three payments on it. Where do I put this in my taxes? Should I be putting this in my taxes?

You would depreciate the building. It is non-residential real property and is depreciated over 39 years. If you are renting the building out, include it on Schedule E, Supplemental Income and Loss. If you use it in your business, include it on Schedule C.