sjrcpa
Level 15
03-29-2022
08:44 PM
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Labor, material and repairs probably add to the Building Basis.
Building gets depreciated over 39 years, unless you mean buildout as qb alluded to.
Equipment gets depreciated separately 5 or 7 years as appropriate..
Lawyer could be Organizational expense - separate intangible. Or? What was it for?
The more I know the more I don’t know.