Leasehold Improvement Property - 2012
Answer:
There is a longer write-off period for certain realty property. For specialized realty assets (qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property) placed in service after 2011, a 39-year (up from 15-year) write-off period generally applies.
Interested in more Tax Law Highlights - 2012 Questions?
- Hurricane Sandy - Federal Disaster Area Designation - 10% killer - Will Congress act
- Teacher's deduction
- 2012 Tax Return Filing Season starts January 30th, 2013
- 2012 - List of Tax Return Forms Causing late filing in late February or March 2013
- Social Security - Allowed earnings - Under full retirement age