Capitalizing Expenses

[DouglasP]

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

[Opus 17]

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.)