What line do I write off a storage building on a schedule C?
Most portable storage buildings can be easily detached from their foundations. They are considered tangible personal property. Your storage shed is depreciated using form 4562. It generally has a MACRES recovery period of 7 years. Include the cost of pouring the foundation, the cost of delivery, the cost of installation as part of the basis. The cost of the building permit is an expense listed under license fees, line 23, Schedule C. Whether or not your portable shed is attached to a permanent foundation, you can expense it by taking a 179 deduction, if you wish. A large storage building classified as non-residential real estate has a longer class life of 39 years. A storage building that does not easily detach from it’s foundation becomes a fixture, or an improvement, or an attachment, and is depreciated with a class life of 39 years. You can not take a 179 deduction for such a building. A poured concrete foundation becomes a fixture to the land if it would be difficult to dig up and
