Years ago I bought a couple city lots. I demolished the buildings and have paid taxes and upkeep on the properties. I have never used them or know how to use them as possible deductions. Can I deduct any of their upkeep or taxes?
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1 Best answer
Texas Roger
Level 15
Jul 11, 2020 7:11:50 AM
If you itemize deductions on your tax return, the property taxes you pay on the lots can be deducted as a property tax. Nothing else can be deducted on your tax return.
1 Replies
Texas Roger
Level 15
Jul 11, 2020 7:11:50 AM
If you itemize deductions on your tax return, the property taxes you pay on the lots can be deducted as a property tax. Nothing else can be deducted on your tax return.