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Depreciation Category Code for Leasehold Improvements
Preparing a late 2018 tax return for a client. They leased a building and spent $60k in leasehold improvements (not expanding the size or changing the interior structure of the premises). I'm not sure which category code to use in Lacerte in the Depreciation screen. Would it be a category 5 (Improvements), or should I use category 8 (Amortization)?
Thanks in advance for any advice!
