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.
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.
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