Sold land to buy a home and want to deduct the down payment if possible

[RemyHebert]

In 2021, I sold land that I inherited and used part of the proceeds for a down payment on a home. Can I use that to offset the tax on the sale of the land?

[KrisD15 · Accepted solution]

No, 

but remember that your basis in the land is the Fair Market Value on the date you inherited it. 

[RemyHebert]

Thank you, @KrisD15 , for your reply.