Prior to TCJA, you could have taken expenses as miscellaneous on Schedule A, subject to a 2% of AGI floor. The only option now is to capitalize them and add them to the cost of the lot or land. Please see this LINK for more information.
Listed below are closing costs that you can add to the basis of the property.
- Title fees
- real estate commissions
- documentary stamps
- credit report costs
- costs of an abstract
- transfer taxes
- home inspection
- flood certificate
- attorney fees, etc.
