Can the expense for an appraisal be deducted from capital gains on the sale of land?

[aycockjr]

I got an appraisal for a lot prior to selling it.   Can I deduct the cost of the appraisal from the capital gains made on the lot?  Would this deduction in turbo-tax be captured in the section labeled "Enter Land Sale Information" where it says "Sale Expenses Not Reported on form 1099-B?

[TomK · Accepted solution]

Those would be considered closing costs. They are not considered tax deductible, but will increase your cost basis.