Broke lease - Improvements

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  • zeros
    Senior Member
    • Dec 2006
    • 921

    #1

    Broke lease - Improvements

    Client leased a building and then installed a floor drain in connection with his automotive business. He walked away from the lease and, of course, had to leave the floor drain, with a value of $6500. Can this be written off?
  • veritas
    Senior Member
    • Dec 2005
    • 3290

    #2
    yes

    as a 4797 loss.

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    • JohnH
      Senior Member
      • Apr 2007
      • 5339

      #3
      Talk about flushing money down the drain...
      "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

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