That would be considered a business real property improvement.
The cost of an improvement to a business asset is normally a capital expense.
But you could make an election to deduct improvements all in 2017. This is called the Safe Harbor Election.
Here are the rules you need to meet to take this election:
- Your gross receipts, including all your other income, are $10,000,000 or less.
- Your eligible building has an unadjusted basis of $1,000,000 or less.
- The cost of all repairs, maintenance and improvements is less than or equal to the smallest of these limits:
- 2% of the unadjusted basis of your building or
- $10,000
Or, you can elect to deduct the costs of making a facility or public transportation vehicle more accessible to and usable by those who are disabled or elderly. You must own or lease the facility or vehicle for use in connection with your trade or business. See See Barrier
Removal Costs on page 25 of this link.
You may also be eligible for the Disabled
Access Credit, which is part of the General Business Credit.
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