Obviously it depends what storage you have, ideally in a garage, then shed, I've even heard of guest bedroom, dining room and bath.
However mine lived outside for 3 years. If you do this I wouldn't put it in a bag as it'll retain damp.
Home to black Alfa Romeo 159 3.2 V6 Q4 ,green MGF VVC and red MG Maestro T16.
MG - the friendly marque.