Question

Transpose home Garage into a shop

Forum|Forum|4 years ago
October 27, 2021
1 reply
0 views

I transpose my home garage into a full service garage. Going to open a brake service. I spent money on remodeling the garage to include car lifts racks, tools, compressors, etc. Essentially, we park the home cars on the outside. How do I claim the expense for equipment and for remodeling?

O

OpeA1

One requirement for the home office deduction is that you regularly use a part of your home exclusively for conducting business.

The link is useful guide:

https://ttlc.intuit.com/community/business-expenses/help/what-does-regular-and-exclusive-use-mean/00/26537

If this is a business to you, you can file a return with income and expenses from the business on your return. Please see the IRS link : https://www.irs.gov/businesses/small-businesses-self-employed/recordkeeping

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"