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March 7, 2022
Question

I built and paid for a new building for my farm in 2021. Asset or home office? Neither options seem to ask the right questions.

  • March 7, 2022
  • 1 reply
  • 0 views
This is a processing room and office.

1 reply

ColeenD3
March 7, 2022

It is an asset that is also a home office. You can divide the usage according to square footage. You will be able to deduct both parts as it is 100% business use.