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Anonymous
August 6, 2020

Lease commissions under $5k

  • August 6, 2020
  • 2 replies
  • 16 views

Hi everyone,

I'm working on some tax returns for commercial real estate owners. I read this website: https://perkinsaccounting.com/top-things-your-cpa-thinks-a-great-property-manager-should-know/ and it said that lease commissions under $5,000 should be expensed. However, I'm not seeing that in the code section except 1.263(a)-4(d)(6)(v). But I don't think the 263 regs apply since this is not something the company created. Does anybody have any idea where in the code section it says lease commissions under $5,000 can be expensed?

Thanks!

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    2 replies

    George4Tacks
    George4Tacks
    Level 15
    August 6, 2020

    Please ignore. Misread

    Answers are easy. Questions are hard!
    T
    TaxGuyBill
    Level 15
    August 6, 2020

    George, the title of (d) is "Created Intangibles", which is why the OP doesn't think that applies to a non-created intangible.

     

    EDIT:  George changed his answer while I was typing my original comment.   🙂

      qbteachmt
      qbteachmt
      Level 15
      August 7, 2020

      The article you linked to is undated. I would be cautious about using that info as a reference.

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