DaveF1006
Expert Alumni

Deductions & credits

If a taxpayer owns vacant or unimproved land as an investment, there is an election under Internal Revenue Code Section 266 to capitalize expenses including property taxes. The election is made on a year-by-year basis.

 

 As far as i am aware of, this is the only instance where property taxes may be capitalized.

 

 

 

 

 

 

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