Discussion:Cost to acquire lease

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

(Difference between revisions)
Jump to: navigation, search
Revision as of 15:56, 4 September 2008
Dickens (Talk | contribs)
(It was paid to t)
← Previous diff		 Revision as of 16:02, 4 September 2008
RJM (Talk | contribs)
(Believe this is)
Next diff →
Line 10: Line 10:
{{ForumReplyPost|UserID=Dickens|Date=4 September 2008|Text=It was paid to to lesee(not to the landlord) to acquire his lease {{ForumReplyPost|UserID=Dickens|Date=4 September 2008|Text=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.) }} for just the space (nothing tangible). (Never ran across this before.) }}
 +
 +{{ForumReplyPost|UserID=RJM|Date=4 September 2008|Text=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.}}

Revision as of 16:02, 4 September 2008

Discussion Forum Index --> Basic Tax Questions --> Cost to acquire lease
Discussion Forum Index --> Tax Questions --> Cost to acquire lease

Dickens (talk|edits) said:

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.

JR1 (talk|edits) said:

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?

Dickens (talk|edits) said:

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.)

RJM (talk|edits) said:

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.
Retrieved from "http://www.taxalmanac.org/index.php/Discussion:Cost_to_acquire_lease"