Can I depreciate a parking space?

[Robert F.]

Hi all,

I am wondering if I can depreciate a parking space? My wife and I bought a parking space in 2016 that we rent out to someone who commutes into town for work. It is located in the garage of a condominium complex. It is deeded separately from any other condo, we pay county property taxes on it, and on that tax statement it lists the value of the land as $0, but provides a value for "Buildings, etc." Thus, I assume I can depreciate it, but wanted to be sure, as it is literally just a square of concrete with lines painted on it. Does anyone else have experience with this? Thanks in advance for the advice!