how can i make an election under sec 266 in turbo tax

No, you would have to make the election to capitalize certain costs by attaching a statement to your return and mailing it in.

Thanks Thomas 

Do you have to make the 266 election/ statement every year?

Or once you make it, can you just continue to capitalize property taxes and HOA fees on vacant land?

This is an annual election, so you would make the election for each year you want the election to be valid for.

@TaxHelp222 

can i make the elect for sec 266 for all years in the year of sale

This is an annual election, so you would make the election for each year you want the election to be valid for.