Land Purchase to build on for LLC

[funsize]

I own an LLC and build spec homes.  I purchased a vacant lot last year to build a home on to sell for this business.  I have not sold yet.

I understand that I can claim taxes paid on that lot on my Schedule C.

But can I, should I, or do I need to claim the lot purchase elsewhere?

[PaulaM]

If your LLC is a single member LLC, then yes record the property tax expense on your Schedule C. Otherwise, you can deduct it on the schedule A as an Itemized personal expense.