Can I deduct anything on alta settlement statement on the purchase of land?

[Marketstar · Accepted solution]

You can deduct any mortgage interest and property taxes paid at closing.

Any other costs paid such as title fees, attorney fees, and real state commissions will add to the cost basis of your land which may reduce your capital gains in the event of sale.

[jedhiguera]

what part on turbo tax does this get added to?

[HelenC12]

If you're asking where to enter your other costs like title fees, attorney fees, and real estate commissions, you don't enter those items in TurboTax. Those items will be added to the cost (basis) of the land when you sell the land. 

• To enter your mortgage interest, see Where do I enter my 1098 mortgage interest statement?
• To enter your property taxes, see Where do I enter my real estate (property) taxes in TurboTax Online?

See IRS Publication 551, Basis of Assets, page 2 and 3, Real Property, Settlement costs, for additional information.