Is recent farm land purchase deductable?

bought 100 acres of land for our farm. Can any of this be deducted and if so where?

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Is recent farm land purchase deductable?

Unfortunately, land is not a depreciable asset.

If you borrowed money to pay for the land the interest is deductible on your schedule F.

You will also be able to deduct the additional property taxes that you'll pay on the new land.

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