How to categorize Leasehold improvements for architect fees, contractor fees, plumbing, painting, etc?

[abertrand3]

I understand it needs to be treated as a business asset and depreciated, but I don't see how I can categorize them.  Under "Intangibles, Other property", I can use "Other asset type" and then define my items as “Constructing asset: architect fees", “Constructing asset: contractor fees", etc, but then it asks for the asset class and the corresponding class life, but none of the descriptions fit my purpose.

I am renting a space I do no own for my business.

[MichaelMc · Accepted solution]

You are going into more detail than your need to, as the various costs were all part of a single asset.

You are going in the right direction. Under the Intangibles, Other property, enter "Leasehold Improvements" and the total cost. Date acquired would be the date the improved premises were opened for business. The depreciable life of leasehold improvements is 15 years; value remaining if the lease is terminated earlier may be fully expensed in the year of termination, when the improvements are abandoned.