DavidD66
Expert Alumni

Deductions & credits

No, those costs are not tax deductible.  Instead, they are added to your cost basis and will reduce any gain (or increase a loss) upon disposal of the property.  If you develop the property instead of selling it, those costs could be capitalized and depreciated. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post