No, property taxes and interest on the note or mortgage cannot be added to the cost basis. Those items are deductible expenses either on itemized deductions if the camper was used for personal purposes, or as a business expense if it were used in a income producing business activity.
See the list of items that cannot be added to cost basis for property.
Loan charges - Loan charges are part of the loan, not cost basis
- Application fees
- Lender fees
- Appraisal Fee
- Inspection Fee
- Condo Questionnaire
- Credit Report
- Debt Report
You can't include in your cost basis the fees and costs for getting or using a loan on property.
@wakbomom
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
