Schedule A allows only property taxes for main residence and one 2nd / vacation home. Rental property accounts for property taxes on schedule-E. Other investment property such as land includes the property taxes etc. under suspended losses to be reconciled when the property is disposed off ( behaves like a change in adjusted basis )
Schedule A allows only property taxes for main residence and one 2nd / vacation home. Rental property accounts for property taxes on schedule-E. Other investment property such as land includes the property taxes etc. under suspended losses to be reconciled when the property is disposed off ( behaves like a change in adjusted basis )
Mortgages are limited to 2 residences, but you can deduct unlimited Real Estate taxes.
If "investment property" means rental property, those taxes go on Schedule E.
If it is just vacant land held for investment, I think you need to file an election to add the taxes to Basis.
<a rel="nofollow" target="_blank" href="https://www.law.cornell.edu/cfr/text/26/1.266-1">https://www.law.cornell.edu/cfr/text/26/1.266-1</a>