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).
House improvements to rental properties are depreciated as a separate property You cannot deduct the cost of house improvements in your rental property but you can recover the cost of improvements by taking depreciation. If you improve or make additions to a rental property, you must treat the improvement or addition as a separate depreciable property.