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A lessee with average annual receipts of less than $10 million can take advantage of the small taxpayer safe harbor to immediately deduct improvements as

A lessee with average annual receipts of less than $10 million can take advantage of the small taxpayer safe harbor to immediately deduct improvements as long as the total expenditures for the year with respect to a leased building are under the lesser of $10,000 or

The owner's original cost to purchase the building

The owner's adjusted basis in the building

The total amount of rent due over the lease term

None of the above

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