improvements to a leased biz space

[Jeff D.]

I lease a retail space. First year. I put about 20k into remodeling the space this past year. What's the best way to account for that expense on taxes? It's commecial, and I don't own the space, just the biz in the space. Does it work just like a residential real estate where a large remodel to your house is a capital improvement that increases your basis and gets depreciated? Or is it one big one-time write off?