https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-paid-for-renovations-on-an-office-my-company-is-leasing-where-am-i-supposed-to-input-the-cost-in/01/579970#M75311 <P>Is this considered a capital expenditure even though I do not own the space and cannot take the assets if I leave? If it helps, it was new flooring, kitchen cabinets, and some plumbing.<BR /></P> Wed, 05 Jun 2019 22:22:57 GMT sirschuster 2019-06-05T22:22:57Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-paid-for-renovations-on-an-office-my-company-is-leasing-where-am-i-supposed-to-input-the-cost-in/01/579970#M75311 <P>Is this considered a capital expenditure even though I do not own the space and cannot take the assets if I leave? If it helps, it was new flooring, kitchen cabinets, and some plumbing.<BR /></P> Wed, 05 Jun 2019 22:22:57 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-paid-for-renovations-on-an-office-my-company-is-leasing-where-am-i-supposed-to-input-the-cost-in/01/579970#M75311 sirschuster 2019-06-05T22:22:57Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/you-ll-enter-this-as-an-asset-leasehold-improvement-in/01/579973#M75312 You'll enter this as an asset (Leasehold Improvement) in TurboTax Business just like you would enter a new computer purchase. <SPAN>The IRS sets a period of 15 years for leasehold improvements.&nbsp; <BR /><BR />However, if the tenant leaves before the 15 year depreciation period&nbsp;is up, the balance of the un-depreciated leasehold improvement is then deducted in the year the lease is terminated.&nbsp; Therefore, you will not lose any of the deduction if you don't stay in the lease for 15 years.</SPAN><BR /> Wed, 05 Jun 2019 22:22:59 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/you-ll-enter-this-as-an-asset-leasehold-improvement-in/01/579973#M75312 MichaelDC 2019-06-05T22:22:59Z