Capitalize Carrying Charges IRC Section 266
TaxAct does. And from what I can tell, you would need to do so to make a Section 266 election.
Really disappointed / frustrated that turbotax has missed this for years for me. Been paying taxes on vacant land that I can't deduct due to the SALT cap.
Unable to efile and submit this. The software never suggested I make the election. Finally stumbled upon the fact that I should be doing it when I tried to figure out if those taxes should have increased my basis.
