Can vancant land purchase be deducted as an expense on Schedule C

The land is being used for material storeage

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No. Land is capitalized and no depreciation allowed.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

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No. Land is capitalized and no depreciation allowed.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

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