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).
Wear, tear and exhaustion: Some types of land improvements are subject to wear and tear due to their nature, such as earthen dams, terracing, drainage ditches, canals and lagoons. (13) However, obtaining a depreciation deduction for these costs requires establishing that the improvements have a limited useful life.