Ambrebobby
Returning Member

land as inventory

We are an LLP  We own land as inventory.  Do we add all expenses to the basis or may we take some as expenes?  If so, which ones?   Of the ones we much add to the basis, do we spread indirect ones based on the basis and direct ones, of course, to the direct property?  We have not sold any land during 2020.

Thank you.