Yes and no. It depends.
You need to elaborate on "upkeep and management". What is there to "upkeep" on vacant land? What is there to "manage" on vacant land?
If this raw land is not being utilized in the production of income (such as leasing it out) then the only thing you can deduct as a SCH A itemized deduction each year, is property taxes and mortgage interest. That's it. Nothing else. It's considered "personal use" property, so your upkeep costs (such as grass mowing on a recurring basis) just flat out is not deductible.
Another thing that can affect my earlier comment above, is your intent. What is your intent for this land? Also, when did you purchase it?
