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).
Leasehold improvements versus land improvements. Another misconception about the 15-year recovery period is that it is the same as that used for land improvements and therefore the same 150 percent declining balance to straight-line (150DB/STL) depreciation method applies.