Discussion:Cost to acquire lease
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Discussion Forum Index --> Basic Tax Questions --> Cost to acquire lease
Discussion Forum Index --> Tax Questions --> Cost to acquire lease
| 4 September 2008 | |
| Morning all,
Client S-corp. moved to a new location and had to pony up $50,000 to acquire the lease of the prior occuppant. How to claim? My guess is over time. If so, how long? Appreciate any help. Thanks. | |
| September 4, 2008 | |
| How was the 50k defined? And paid to whom? As buying the buildout? For fixtures, etc. in the space? Or was this a mere 'fee' to the landlord? | |
| 4 September 2008 | |
| It was paid to to lesee(not to the landlord) to acquire his lease
for just the space (nothing tangible). (Never ran across this before.) | |
| 4 September 2008 | |
| Believe this is an acquisition of a "leasehold interest", an intangible asset. Not sure if it is amortizable over 15 years or over the remaining term of the lease. If you search the yellow box I recall there are a few threads on this. | |
| 4 September 2008 | |
| Searched & found that it's an intangible asset & amortizable over remaining lease term...
Thanks for all the help! | |
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