I bought a vacant land for development. So far I have incurred expenses only (property Tax, survey, architectural cost) can I write these expenses off? If so where?

Gojo — Wed, 04 Feb 2026 05:18:33 GMT

Where in turbo tax do I enter these expenses

Re: I bought a vacant land for development. So far I have incurred expenses only (property Tax, s...

DianeW777 — Mon, 14 Apr 2025 12:49:30 GMT

No. The expenses will be included as part of the cost basis with the exception of the property tax. If the property is placed in service for use in a business activity at some point then you may be allowed to use 'start-up' expenses for the regular expenses. The cost basis will be used to offset gain should there be a sale in the future. Depending on what you plan to develop will determine expenses or capital costs in the future.

Start-up Business Tax Tips

topic I bought a vacant land for development. So far I have incurred expenses only (property Tax, survey, architectural cost) can I write these expenses off? If so where? in Deductions & credits

I bought a vacant land for development. So far I have incurred expenses only (property Tax, survey, architectural cost) can I write these expenses off? If so where?

Re: I bought a vacant land for development. So far I have incurred expenses only (property Tax, s...