Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Lease buyout fee

Highlighted
Level 1
last updated ‎January 14, 2020 11:23 AM

Can a business deduct a fee paid to previous tenant to be able to move into a facility and generate a new lease with the landlord?

Labels (1)
0 Cheers
2 Replies 2
Highlighted
last updated ‎January 14, 2020 11:23 AM

Sounds like a cost of acquiring the lease, amortizable over the lease term, to me. 

Highlighted
Level 1
last updated ‎January 14, 2020 11:23 AM

that's what I was leaning towards - thanks for the comment 🙂 - I was hoping to get the deduction in the year incurred but not the best treatment

0 Cheers