ErnieS0
Expert Alumni

Get your taxes done using TurboTax

Survey fees are not deductible. They are added to the cost or "basis" of your property so you will pay less tax when you sell your farm. Costs that are added to the basis of your property include:

  • Abstract fees (abstract of title fees).

  • Charges for installing utility services.

  • Legal fees (including title search and preparation of the sales contract and deed).

  • Recording fees.

  • Surveys.

  • Transfer taxes.

  • Owner's title insurance.

  • Any amounts the seller owes that you agree to pay, such as back taxes or interest, recording or mortgage fees, charges for improvements or repairs, and sales commissions.

For more info see Real Property

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