Can you write off land cost as expense bought 3 lots for tree orchard

posted

Connect with an expert

1 Best answer

Accepted Solutions

Can you write off land cost as expense bought 3 lots for tree orchard

No, you can't. The purchase of land is not an expense, it's a capitalized "cost" and land itself cannot be depreciated, though certain land improvements like fences, roads and walkways can be depreciated.

Tom Young

View solution in original post

1 Reply

Can you write off land cost as expense bought 3 lots for tree orchard

No, you can't. The purchase of land is not an expense, it's a capitalized "cost" and land itself cannot be depreciated, though certain land improvements like fences, roads and walkways can be depreciated.

Tom Young

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post