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Land for business use

  • I was wanting to purchase a small plot of land next to my business to make it into a parking lot. Can I deduct that land price from my taxes as an business expense 
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Land for business use

NO. and the cost of putting in a parking lot is also not curently 100% deductible, The land is not deprciable at all. The cost of the parking lot would be a land inprovment depreciable over 15 yers. 

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