https://ttlc.intuit.com/community/taxes/discussion/can-i-deduct-well-installation-cost-on-vacant-land-sale/01/3415753#M1259641 <P>I bought a piece of land 10 years ago and spent 10k having a well drilled.&nbsp; &nbsp;I had to sell it this year due to emergency.&nbsp; Can I deduct cost of well and an outbuilding I had installed on land?</P> Tue, 07 Jan 2025 22:03:50 GMT Brinkley1970 2025-01-07T22:03:50Z https://ttlc.intuit.com/community/taxes/discussion/can-i-deduct-well-installation-cost-on-vacant-land-sale/01/3415753#M1259641 <P>I bought a piece of land 10 years ago and spent 10k having a well drilled.&nbsp; &nbsp;I had to sell it this year due to emergency.&nbsp; Can I deduct cost of well and an outbuilding I had installed on land?</P> Tue, 07 Jan 2025 22:03:50 GMT https://ttlc.intuit.com/community/taxes/discussion/can-i-deduct-well-installation-cost-on-vacant-land-sale/01/3415753#M1259641 Brinkley1970 2025-01-07T22:03:50Z https://ttlc.intuit.com/community/taxes/discussion/re-can-i-deduct-well-installation-cost-on-vacant-land-sale/01/3415755#M1259642 <P>You can add the cost of the well to the Adjusted Basis of the property when it is sold.</P> Tue, 07 Jan 2025 22:04:55 GMT https://ttlc.intuit.com/community/taxes/discussion/re-can-i-deduct-well-installation-cost-on-vacant-land-sale/01/3415755#M1259642 DoninGA 2025-01-07T22:04:55Z