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).
Between 2001 and 2013, the tax treatment for qualified leasehold improvements changed five times. As of the date of publication, you can depreciate the cost of leasehold improvements over 15 years. You may even be able to use the section 179 deduction to write off up to $250,000 in leasehold improvement costs as expenses.