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Level 1
posted Feb 20, 2021 4:45:38 AM

Purchased land. Received coal royalty. Can I claim the cost of the land?

Purchase land. Received coal royalty. Can I claim the cost of the land?

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1 Replies
Expert Alumni
Feb 20, 2021 8:54:33 AM

No. The land itself is an investment and you will realize gain or loss upon its sale.