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).
Except for the items mentioned in Section 1, land and land improvements don't qualify for the Section 179 deduction. Moreover, even if you purchased otherwise eligible property, you generally can't use the deduction if you lease the property to someone else.