TaxGuyBill
Level 15
12-07-2019
12:50 AM
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Sorry, I saw you said "real" property and my brain interpreted it as "rental" property.
As of now, 39 years is correct. "Leasehold Improvements" was changed to "Qualified Improvement Property". Although the INTENT of the law was to make Qualified Improvement Property 15 years, the actual law put it at 39 years. It seems very likely that Congress will eventually correct that to 15 years, but as of now it is 39 years.
As of now, 39 years is correct. "Leasehold Improvements" was changed to "Qualified Improvement Property". Although the INTENT of the law was to make Qualified Improvement Property 15 years, the actual law put it at 39 years. It seems very likely that Congress will eventually correct that to 15 years, but as of now it is 39 years.
