Fence Installation Tax Question

[WImom]

We put in a fence that is 100% for my childcare (License requires it and it's only part of the yard - the part I use for childcare only)

My husband and I installed the fence. Should I be claiming our time to do this (2 weekends probably 10 hours each day).

Also the wood, nails, tools and tool rental. Where would I put those receipts under MM?

[TomCopeland]

Fence

Since the fence is 100% count all the hours you and your husband worked to put it up. However, if you work two hours together on one Saturday you can only count 2 hours, not 4 hours.

Take all the supplies and materials of the cost of the fence and add them together. You must depreciate these costs over 15 years because a fence is a land improvement. There's a rule for 2010 that says you can claim half the depreciation amount in the first year and depreciate the remaining half over 15 years. See my blog post entitled "Now May Be the Time To Buy Stuff for Your Business" at www.tomcopelandblog.com for more info on this.

[WImom]

Thanks so much Tom.