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Can engineering and architecture fees on a home I never built, but would have been my primary residence be tax deductible?
I sold my primary residence in 2017 and have no capital gains on the sale. I purchased a piece of land with the intent of building my primary residence in 2017. To make a very long story short, I was unable to build. I bought the land for cash and can probably break even on it, however I spend $35,000 in architecture and engineering fees for the designs. Is it possible to claim these as deductions?
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‎June 4, 2019
5:42 PM