land storage

[TaxGuyBill]

The land itself is not deductible or depreciable.


Is the equipment stored on a concrete pad or a gravel pad? If sot, that may be depreciable.. Does your client use a driveway to access the area to store the equipment? If so, the business portion of that driveway might be depreciable.

If those don't apply, I don't see any deduction or depreciation.

[rwm221]

He has a fencing business his house is on an acre of land, and he used part of it for his equipment. I don't know how to expense it or what cost I would use

[Rapid Robert]

I probably won't have a definitive answer, but I'd ask the client,

1) what type of business entity? (sole prop, corp, etc)
2) what else is the land used for, and in what proportions?
3) what expenses did he pay that can be directly or indirectly allocated to the land?

Maybe and extreme example of OIH, or maybe a self-rental opportunity?

[rwm221]

I have a client who has a fencing business. He keeps his equipment on part of his land. Is there a write off for using part of his land for storing his work equipment