Demystifying the CARES Act Webinar - April 3, 2020 CARES Act Webinar – BD 4.3.2020 | Page 12

BUSINESS TAX PROVISIONS
Qualified Improvement Property (QIP)
• The fix is finally here!
• Eligible for 100% bonus depreciation
• Retroactive to 2018 – opportunity to amend
Definition:
• QIP is defined as any improvement to an interior portion of
a building that is nonresidential real property as long as that
improvement is placed in service after the building was first
placed in service by any taxpayer
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