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Special deductions - Coggle Diagram
Special deductions
Leases
Lease premiums must be included in lessors GI, and can be deducted from a lessees income - amount/lease term. Apportionment is required depending on use.
Leasehold improvements must be included in lessors GI, but lessor qualifies for relief - PV of amount, improvement term, and 6%.
Lessee can deduct improvements - amount of improvement/improvement period. Apportionment is required.
Lease payments must be included in lessors GI, and can be deducted from lessees income.
Lease and improvement term is limited to 25 years. Payments must be included in lessors GI for lessee to deduct. Refer to slides for more info and examples.
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