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IRS 2013 taxes

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bkogirl
 
Reply Mon 13 Oct, 2014 11:34 pm
we built a shop this year to service the equipment under cover as alot of welding etc is much easier and saver inside a drive thru shop building can we deduct the cost of the building?
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roger
 
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Reply Tue 14 Oct, 2014 12:05 am
@bkogirl,
If this is an actual business, you may deduct depreciation expense. I don't recall the class life of structures, but you can find in in IRS Publication "How to Depreciate Property". You can certainly not deduct the full cost of a structure in the year it was placed in service.

If this is not a business property, you can not deduct anything.
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