Deducting Garage Renovation · 🏠 Lower Taxes w/ Ryan

Deducting Garage Renovation

My wife and I are artists. We're investing in renovating our detached garage to create a studio. Up to this point we've only taken the home office deduction for using a room as our studio. What kind of documentation should I get from our contractor as he finishes up the job? He has installed a French door, framed and insulated the inside, and installed drywall and lighting. Will just an invoice for the total cost of the job suffice or should I get more specific material break down for depreciating parts of the building like a cost seg? Thanks!

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