Real property purchase subject to lease LLC bought commercial property subject to new lease (under prior owner) for 20 yrs for fast food chain (FFC) FFC just built new drive thru on property. Lease contains provision that FFC will depreciate personal property (signs, kitchen equip, etc) but no mention about building that they built, but assume that they amortize LHI. LLC bought land with new building constructed on it, can the LLC also depreciate bldg, or amortize a lease premium roughly equivalent to bldg value on federal taxes? |