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You should report the total amount paid as the cost basis of your land.
Thanks for the speedy response!
So, only the original purchase price: $8,200. Where do I report the $13,275 in expenses?
You add the expenses to the original purchase price and report the total as your cost basis. You do not report the expenses separately.
Okay, so I misunderstood your original answer. Great - thanks a lot!
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