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Please refer to page 4-8 in the update seminar manual. It is clear that Sec 179 is allowed for Qualified Leasehold Improvement Property and your example in the middle of that page suggests the same. My question is this - you must still have trade or business taxable income in order to deduct Sec 179 currently. In your example you are suggesting that a landlord's commercial rental activity is a trade or business. Is that correct? If an accounting firm rents space and makes their own qualified leasehold improvements, I believe the firm can take section 179 because they might clearly have trade or business income - BUT if a landlord of a commercial property makes the leasehold improvements for their tenant - again are you saying the landlord's income is trade or business income for section 179 puposes?