Solved
Leasehold Improvements - New Business
I have a client that leases a building which he converted to a gym. This is in the first year of his sole prop. He had about $25k in construction costs for the conversion (i.e. moving electrical around, HAVC, building beams, installing lights, removing existing walls, new framing, adding shelves, etc.). Do I depreciate these expenses using MACRS SL over 25 years? What is the correct way to deduct these expenses?
Thank you!
