topic How can I write off the construction material costs for an office which was built out in January but the lease was lost in July? in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/how-can-i-write-off-the-construction-material-costs-for-an-office-which-was-built-out-in-january-but/01/307996#M37792 <P>We had a lease in a commercial building in January 2017. I built out an office in the building. The lease was terminated in July due to the building owner selling the property. How can I write off the cost of the building materials? I did all of the construction myself so there was no labor paid out to a contractor.</P> Mon, 03 Jun 2019 18:35:52 GMT sales2 2019-06-03T18:35:52Z How can I write off the construction material costs for an office which was built out in January but the lease was lost in July? https://ttlc.intuit.com/community/tax-credits-deductions/discussion/how-can-i-write-off-the-construction-material-costs-for-an-office-which-was-built-out-in-january-but/01/307996#M37792 <P>We had a lease in a commercial building in January 2017. I built out an office in the building. The lease was terminated in July due to the building owner selling the property. How can I write off the cost of the building materials? I did all of the construction myself so there was no labor paid out to a contractor.</P> Mon, 03 Jun 2019 18:35:52 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/how-can-i-write-off-the-construction-material-costs-for-an-office-which-was-built-out-in-january-but/01/307996#M37792 sales2 2019-06-03T18:35:52Z The expenses would be deductible in 2017 as leasehold imp... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/the-expenses-would-be-deductible-in-2017-as-leasehold-imp/01/308006#M37794 <P>The expenses would be<B> deductible in 2017</B> as leasehold improvements because you lost the lease.&nbsp; If you had held the lease they would have been depreciated over time.&nbsp; You can use the Miscellaneous Expense category to list the expense.</P><UL> <LI> <I>If the lease is terminated before the asset is fully depreciated, the balance of the asset is written-off upon abandonment.</I> </LI> </UL><P>For more information, please see&nbsp;<A href="https://www.irs.gov/pub/irs-pdf/p946.pdf" rel="nofollow" target="_blank">IRS Pub. 946 How To Depreciate Property</A>.</P> Mon, 03 Jun 2019 18:35:53 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/the-expenses-would-be-deductible-in-2017-as-leasehold-imp/01/308006#M37794 DianeW 2019-06-03T18:35:53Z