Skip to main content
TurboTax
Community
TurboTax
TurboTax
DouglasP
Level 1
Dec 10, 2024 11:52 PM UTC
Question

Capitalizing Expenses

Capitalizing expenses on unimproved property: can this be done with an amended return for previous years?

    3 replies

    Anonymous_
    Level 15
    Dec 11, 2024 12:45 AM UTC
    No text available
    Level 15
    Opus 17Level 15
    Level 15
    Dec 11, 2024 2:43 AM UTC

    There is also the problem of the 2017 tax reform law.  Up to 2017, you could choose to capitalize expenses that otherwise would have been deductible as schedule A miscellaneous itemized deductions subject to the 2% rule.  After 2018, the 2% miscellaneous itemized deduction was eliminated.  So there is a strong argument that capitalization is also no longer allowed (for 2018-2025, unless the law is extended.)

    Anonymous_
    Level 15
    Dec 11, 2024 2:57 AM UTC
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Explore your options
    Terms & ConditionsAccessibility statement
    Sitemap
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2026 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    About Cookies Manage cookies

    TRUSTe nResult Certified e-File C-Level Security Certification
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    © 2026 Intuit Canada ULC or its affiliated companies. All rights reserved. Intuit, QuickBooks, QB, TurboTax and ProFile are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

    Copyright © Intuit Canada ULC, 2026. All rights reserved.

    About Cookies Manage cookies

    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    © 2026, Entreprises Intuit Canada ULC ou ses sociétés affiliées. Tous droits réservés. Intuit, QuickBooks, QB, TurboImpôt et ProFile sont des marques déposées d’Intuit Inc. Les modalités, prix, fonctions et options de service et de soutien peuvent changer sans préavis.

    © 2026, Entreprises Intuit Canada ULC. Tous droits réservés.

    À propos des témoins Gérer les témoins