It’s not your imagination – there are more and more non-profit tenants turning up in formerly retail spaces. At Capstan we are seeing many retail and office buildings bringing non-profit or government tenants into their properties. How does this impact the way depreciation rules are applied?
That’s a complicated question, and it’s a good thing that a picture – or a Capstan flowchart – is worth 1000 words. Before reading on, download your copy of our newest tool, the ADS Flowchart for Tax-Exempt Property.
Tax-Exempt property must be separated into two categories – there are rules in place for depreciating tax-exempt tangible property/land improvements and different rules in place for depreciating tax-exempt non-residential real estate. The Capstan flowchart is two-sided and color-coded, to clearly differentiate between tangible property and land improvements on the orange side, and non-residential real estate on the blue side.
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