I purchased a vacant half acre lot 26 years ago for 2,500 and just sold it last year for $10,000. During that time, I had to pay for a survey and attorney for a law suit to maintain a legal right of way which cost $4,000. I also paid $1,300 in property taxes during the time I owned it. My question is are any of these things deductible in my capital gains tax? All together, I have $7,800 into the property and am hoping some of the expenses are deductible.
