Qualified leasehold improvements must meet four conditions to be classified as an eligible depreciable asset. The improvement must be stipulated in the lease and financed by either the lessee or lessor. The part of the building containing the improvement must be solely occupied by the lessee. The ...
It found that a partnership's exchange of a leasehold interest in an old office for a leasehold interest in a new office building that was built to the taxpayer's specifications are qualified for like-kind exchange treatment under Section 1031. According to the IRS, under Section 1031(a)(1...
The addition of significant leasehold improvements can affect theterm of the leaseif, when the option to extend or terminate the lease becomes exercisable, it makes the exercise of a renewal option reasonably certain to be executed. GAAP requires that, if a renewal option becomes reasonably certai...
aFifteen-year straight-line cost recovery for certain improvements: Allows taxpayers to use 15-year straight-line recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements (Secs. 168(e)(3)(E) and 168(e)(7)(A)). 十五年直线...