concrete poured in 2020

[lo92677]

Client poured concrete in 2020 for business storage at his home. 2021 building the storage.

The concrete that was poured goes on his sch C, correct?

[TaxGuyBill]

Is this like a shed?

I would consider it all one depreciable asset (concrete and building combined) when it is "placed in service".

[lo92677]

Concrete last year 2020

shed this year 2021

[TaxGuyBill]

Completed storage area (concrete and building) ready for business use, 2021.

[qbteachmt]

Was the concrete placed in service in 2020? Like, a huge parking pad with RVs on it, and space left to add a small toolshed which is what happened in 2021?

If it is not in use, it is not ready for business.