Where do I enter Wetland Survey cost as part of my land sale closing costs?

[RDS229]

Wetland biologist survey done to inform land sale in 2024

[Mike9241 · Accepted solution]

probably adds to the cost basis of the land, but if done as part of land sale, the same gain results if you deduct it as a selling expense. 

[RDS229]

Thanks.  Gonna go with a closing cost (selling cost).  Seems to be a bucket for commissions/escrow fee/title insurance/excise tax, etc.  I'll put Wetland Survey fee in the bucket too.  Odd that they don't want closing costs more spelled out/itemized.

[fanfare]

retain itemized receipts of closing expenses in case of audit by the IRS.

@RDS229