Question: I have a client who started a restaurant. He leased the land and bought shipping containers where he spent money contracting out to turn them into bars. I’m having a tough time determining how to depreciate this! First thought was leasehold but he’s not making improvements to a structure...he owns the structure! But nonresidential real estate at 27.5 years doesn’t make sense either as it’s not a brick and mortar building. Curious on others thoughts! TIA

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Hit up national tax!

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Interesting — just looking at this now! Never heard of it before. Thanks!

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It is most likely unclassified 7 year life. https://boxmanstudios.com/blog/modular-construction/a-business-case-for-shipping-containers-in-land-development/

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First - sounds like an excellent opportunity to pitch a cost segregation study if you haven’t.

Like you said, it won’t be leasehold improvements as the containers are owned by the lessee. Probably can’t manage to qualify for weird mobile home-esque real property discussion either since TP doesn’t own the land and likely hasn’t permanently affixed the structures.

The containers themselves will likely fall under either 7 year personal property with no class life or 00.27 for trailer mounted containers (5 years). Definitely doesn’t fall under 44.0 because of Rev Rul 80-127.

I doubt you’d be able to utilize any QIP provisions since it’s improvements on non-real property. Probably have to take the improvements and equipment on an item by item basis. IRS study I linked here is a decent overview.

https://www.irs.gov/businesses/cost-segregation-guide-chapter-72-industry-specific-guidance-restaurants

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Interesting

How permanent are they? Can a truck just come and pick up the containers or is it connected to a permanent foundation?

They can pick it up and move it whenever they want, which leads me to think...7 year property

I was thinking 57.0 property personally.

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