This question/topic has likely be presented here before but I didn't see anything when I searched the forum so... New client created partnership (form 1065) and purchased small storage unit business. Would the activities of renting out the storage units be reported on form 8825 or on page 1 of the 1065? In addition, the storage units were in service with the previous owner before client purchased. As a result, would the depreciation life of the structure be 39 years? Thanks.
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In the recent past I handled a storage unit in WA and treated it as a Schedule C, your case would be page one of 1065.. And yes 39years was used.This post is for discussion purposes only and should be verified with other sources before actual use.
Many times I post additional info on the post, Click on "message board" for updated content. -
It depends on if "services" are provided. If "services" are provided, it does on Page 1 and is probably subject to SE tax. If not, it goes on 8825.
Here is a link to a court case that ruled in this specific circumstance it was NOT subject to SE tax (and therefore would go on 8825 in your case):
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