I own a wedding venue and last year my husband and I built a new building for commercial bathrooms, as well as an attached groom suite. I know I have to depreciate the building over 39 years, but what about items like the sinks, toilets, hand dryers, etc. Also, does a brand new building fall under Land Improvements? If listed under other, it throws it into a Section 179 deduction which is not accurate.
If dryers, sinks, etc are free standing, that is not attached to the property they would be personal property eligible for 179 or bonus depreciation or 7 year-life.
if the cost is less than $2,500 each
If permanent it's part of the building
The type of property is not land improvements but commercial real estate.
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