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Business & farm
No. These costs are added to the basis of the property.
Constructing assets.
If you build property or have assets built for you, your expenses for this construction are part of your basis. Some of these expenses include the following costs.
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Land.
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Labor and materials.
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Architect's fees.
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Building permit charges.
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Payments to contractors.
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Payments for rental equipment.
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Inspection fees.
In addition, if you own a business and use your employees, material, and equipment to build an asset, don't deduct the following expenses. You must include them in the asset's basis.
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Employee wages paid for the construction work, reduced by any employment credits allowed.
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Depreciation on equipment you own while it's used in the construction.
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Operating and maintenance costs for equipment used in the construction.
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The cost of business supplies and materials used in the construction.