Yes, just when you thought your favorite condiment couldn't get any better, I present to you 9 unusual uses for mustard that go beyond sandwich-making. But first, a little mustard history! Way back when, the Romans were first introduced to mustard seeds by the Egyptians.
Therefore, the basis in the building is $850,000 (85% x $1 million). A cost segregation study identifies the portions of the building that qualify as personal property and land improvements for depreciation purposes (but are still like kind for 1031 purposes).
Qualified improvement property can also be considered qualified leasehold improvements if they meet all of the requirements. Tax Benefits to Lessees Improving Leased Property. The primary federal tax benefits for lessees who improve qualifying business property include bonus depreciation, expensing under Section 179, and a shorter depreciable life.