Building an investment prop. Haven't broken ground, but have significant expenses paid in 2022. Building permit, septic design, building design, soils,ect. Can I deduct?

Yes, construction costs can be added to the Property Cost Basis and depreciated once complete. 

 

If you have a construction loan, however, you can deduct the interest as an Investment Interest Expense on Schedule A.

 

Here's more info on Construction Costs.

 

@yingd777