2018 UltraTax CS
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Qualified restaurant property is only eligible for bonus depreciation if it is also considered qualified leasehold improvement property.
To indicate that qualified restaurant property is a qualified leasehold improvement either:
- Use the Method Life Wizard and select “Leasehold improvement (qualified).
- Click on the Other tab in the asset detail and select Leasehold improvement (168(k)) in the Go Zone/168 (k)(force) field.
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Internal only
The customer should be selecting “qualified leasehold improvement” from the Method/Life Wizard in instances where it’s a “qualified restaurant property” (so the system knows to give them the bonus), but then choosing “qualified restaurant property” when it’s that which is not a leasehold improvement and therefore not eligible for bonus.
The customer should be selecting “qualified leasehold improvement” from the Method/Life Wizard in instances where it’s a “qualified restaurant property” (so the system knows to give them the bonus), but then choosing “qualified restaurant property” when it’s that which is not a leasehold improvement and therefore not eligible for bonus.