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LMS61
New Member

Property tax expense for investment vacant land

Can I enter property tax expenses on undeveloped land I hold for investment purposes? If so, where do I enter that? Can I deduct HOA and/or Fire/Water assessment fees (even though there is no water connection to the property). 

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1 Reply
MayaD
Expert Alumni

Property tax expense for investment vacant land

If you itemized your deductions, you can deduct property taxes paid on vacant land as a personal itemized deduction on Schedule A and is subject to the $10,000 state and local taxes limit.

HOA and Assessment fees are not deductible. 

Where do I enter my real estate (property) taxes in TurboTax?

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