- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
The purchase of land is not an expense; it is an investment. Neither the down payment nor any other part of the purchase price would be a tax-deductible expense. These amounts form the tax basis for the property and will determine whether you have a gain or loss when the land is eventually sold.
‎June 3, 2019
5:20 PM