deduction for property purchase in Greece

[gkapsis13]

I bought a property in Greece last year (just the land, no building) and I wanted to see if I can write it off my taxes as a big expense or something like that. Im planning of building in the future but right now is just the land.

[AmyC]

No, it is an investment. Just like when you buy stock, you don't write it off when you buy it. You keep your records showing your purchase as the basis. Any improvements you make, like a building, will add to the basis.

Keep good records of all that you do.