Business & farm

Just to be clear here, how did you treat those costs when the expense(s) were incurred?

  • What exactly are you looking to add to your basis?
  • Your time involved cannot increase your basis
  • How did you treat the cost of acquiring the grape vines when that occurred?  If you expensed those costs then you cannot also increase the basis of the land.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.