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KBKG Tax Insight: New Qualified Improvement Property Category in 2016

Gian Piazza

Most tax professionals know by now that under the Protecting Americans from Tax Hikes (PATH) Act of 2015, the rules for eligibility as Qualified Leasehold Improvements (QLI), Qualified Restaurant Property, and Qualified Retail Property with a 15 year recovery period are now permanent. Additionally, the PATH Act has extended, modified, and will eventually phase out bonus depreciation. However, one of the least discussed provisions that will have a broad impact on all real estate owners is a brand new category of building improvements that significantly increases the likelihood that real property capital expenditures are eligible for bonus depreciation.

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