9/21/09 - 15 Year Writeoff for Leasehold Improvements, Restaurant Property, and Retail Improvements Property Bought and Placed in Service This Year

Under Code Sec. 168(e)(3)(E), qualified leasehold improvements, qualified restaurant improvements, and qualified retail improvement property placed in service before January 1, 2010 may be written off over 15 years via straight line. Unless Congress acts, the generally applicable writeoff period for these improvements will revert to 39 years for property placed in service after 2009.