Can I add a land purchase to my tax report?

[ErnieS0]

It depends on what you did with the land. You can deduct property taxes and possibly interest if you financed your purchase.

You can deduct property taxes in Deductions & Credits if the land is either personal or investment property. You can deduct investment interest up to the amount of your investment income if this is an investment property.

• Type  property taxes in Search (magnifying glass) in the top right
• Select  Jump to property taxes
• On “Did you pay property or real estate taxes?,” select YES
• On “Enter the property tax you paid in 2022” put your property tax in the right box

If you made money off the land — for example, renting the land or selling crop or timber — then you will report the income and deduct business expenses including property taxes and interest.

Where to enter this in TurboTax depends on business use.

[Mike9241]

most likely it does not and even cannot be entered anywhere on your return except if your renting it. but to be sure what is it use or purpose?