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).
Qualified improvement property. Generally, this is any improvement to an interior part of a building that is nonresidential real property. The improvement is placed in service after the date the building is first placed in service and is section 1250 property.