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cloud42
New Member

Is the cost of dividing inherited land between siblings added to the cost basis of the property?

My brother and I jointly inherited land in 1995. In 2007 I spent $5000 for attorney, appraisal and survey fees to obtain a clear title by dividing the land. In 2017 I sold my land. Can the $5000 be added to my cost basis?

2 Replies
Hal_Al
Level 15

Is the cost of dividing inherited land between siblings added to the cost basis of the property?

Yes. That's part of your acquisition cost, even though you basicly inherited the proerty

cloud42
New Member

Is the cost of dividing inherited land between siblings added to the cost basis of the property?

Thank you.
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