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New Member
posted Jun 6, 2019 1:39:44 PM

I bought raw land in 2017 as an investment. Where do I enter mortgage interest and property taxes in turbo tax? can I deduct traveling expenses to look for land to buy?

If so,  where do I enter traveling expenses in turbo tax?

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1 Replies
Expert Alumni
Jun 6, 2019 1:39:45 PM

You can enter your property taxes in the DEDUCTIONS & CREDITS section. Interest on the purchase of land for personal use is not deductible. 

If you are not using the land to generate income, you cannot deduct the traveling expenses, but can add the amount to your 'basis' in the property, which will be considered if you sell or rent the property later.

Here's more info:

https://ttlc.intuit.com/replies/5123358