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jamesfsmithco
Level 2

Do property taxes increases the basis for an investment property?

I have an investment property that I've held and paid property taxes for many years.  Can the property taxes be used to increase the basis for the property?

 

Thanks - Jim

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Accepted Solutions
ColeenD3
Employee Tax Expert

Do property taxes increases the basis for an investment property?

Yes, but only if you do not pay them. As you already have paid them, it will not add to the basis.

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1 Reply
ColeenD3
Employee Tax Expert

Do property taxes increases the basis for an investment property?

Yes, but only if you do not pay them. As you already have paid them, it will not add to the basis.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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