Tax Deductions for Qualified Improvement Property (QIP) 2020 CARES Act

Coronavirus Aid, Relief, and Economic Security Act
On-Demand Webinar Replay

Improve Your Building and Tax Savings

Watch this 60-minute session held November 19, 2020, featuring experts from Akin Gump who further explain the scope of Qualified Improvement Property (QIP) tax deductions related to the amendment in the 2020 CARES Act. The panel provides general information about key guidelines to expensing and how it applies to  non-residential building tax payers. Eligible interior building improvement can include fire protection systems and devices—including system migration, building management systems, security systems and devices, sensors, valves, actuators, and other HVAC devices, and more. 

Highlights to Section 168

Qualified interior improvements made by the taxpayer for existing non-residential buildings may be eligible for a tax deduction of the full amount of equipment and labor costs in a single year, without limitation on the size of the project.


QIP can include:

  • Fire protection systems and devices, including system migration
  • Building management systems
  • Security systems and devices
  • Sensors, valves, actuators, and other HVAC devices
  • HVAC interior ductwork
  • Plumbing, electrical and gas distribution
  • Modifications to tenant spaces, as long as the interior walls are not load-bearing

Invest in qualified facilities improvements to optimize building performance and tax savings.

Siemens solutions

DISCLAIMER – Siemens will not recommend any financing action to Customer as Siemens is not a registered municipal advisor and is not subject to any of the fiduciary duties imposed on municipal advisors. Siemens is not a tax advisor to nor fiduciary of Customer and Customer should consult its own legal, financial or other tax advisors as appropriate prior to taking any financing related action.