Expenditure for Schedule C LLC Tenant

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  • Uncle Sam
    Senior Member
    • Jul 2006
    • 1462

    #1

    Expenditure for Schedule C LLC Tenant

    A business client (Schedule C LLC) with a professional practice in an office building moved into a new office location earlier this year.
    He spent nearly $ 28,000 in making improvements to the leased office space. How is that depreciated, or expensed, and the limitations
    of expensing?
    I understand that it is depreciable property over 15 year period, but is there bonus depreciation that can be taken?
    Where in TTB is that discussed?
    Thanks to all in advance.
    Uncle Sam, CPA, EA. ARA, NTPI Fellow
  • mbigelow
    Member
    • Jan 2015
    • 87

    #2
    Sounds like it's probably qualified improvement property to me, which is eligible for bonus depreciation but not 179. Check out 9-10/9-11 and 26-4 in TTB.

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