Fence Expenses

[LittleExplorers]

We are putting in a fence ourselves. Where does th3 expense of materials and tools go in tax forms? I am funding it with grant money if that makes a difference.

[TomCopeland]

Originally Posted by LittleExplorers

We are putting in a fence ourselves. Where does th3 expense of materials and tools go in tax forms? I am funding it with grant money if that makes a difference.

You can deduct the business portion of the fence in one year, rather than depreciating it. If you are required to put up the fence by licensing, deduct 100% of the cost. If you have personal reasons for the fence, deduct part of the cost, using either your time-space% or an actual business use percent. If the cost is less than $2,500, claim it on Schedule C as a repair. If the cost is more, claim it on Form 4562, line 14.