Thanks for the quick response! If I may, a follow-up question for you as it relates to "basis". The land cost XXX, then we spent YYY for a required "water access fee" (from community association) and ZZZ to clear the lot to build. We had other planning, design and permitting expenses, but those were specific to our house plan, but the water access fee and land clearing cost would be required for anyone. Would these be eligible for including in our basis when calculating our capital gain?
