I bought a commercial garage for personal use in 2019. It was a cash transaction. Is any part of that new purchase a writeoff on my tax return?
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1 Replies
AnnetteB6
Expert Alumni
Mar 13, 2020 5:04:48 AM
No.
If you were using the garage for business purposes or if it were placed in service on a rental property, then the answer would be yes. Personal use is not a deduction though.