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I have a part-time concrete coatings business. I built a pole building to store my equipment and materials. How should I claim the cost of the pole building?
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The pole building would be considered an asset. Unfortunately, since this is not a farming business, you will use the Non-residential real estate classification which will depreciate the building over 39 years.
If you need help finding the asset entry section in TurboTax please see the following:
1. While in your return select My Account and then Tools.
2. In the Tools Center select Topic Search.
3. In the search box type, "assets bought, self-employed business"
4. Edit your business.
5. Scroll down to the "Business Assets" section.
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