Can I deduct property taxes on sale of vacant land?

[CS567]

In 2023 we sold vacant land that we have held for 49 years.  In past years 5-6 years we have not been able to deduct the property taxes paid on this land, due to the IRS code change that limits the property tax deduction to $10,000.00 (our resident prop. taxes are about 20,000.00).  Because we could not deduct these taxes, can they be claimed as deductions on the capital gains calculations for this sale?

[KrisD15]

No, unless you are a "Land Developer" (in which case the taxes could be claimed as business expenses) you can only claim the property tax as a personal deduction on Schedule A. 

It is not a selling expense and it cannot be added to or subtracted from the basis.