Can I deduct well installation cost on Vacant land sale?

I bought a piece of land 10 years ago and spent 10k having a well drilled. I had to sell it this year due to emergency. Can I deduct cost of well and an outbuilding I had installed on land?

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Can I deduct well installation cost on Vacant land sale?

You can add the cost of the well to the Adjusted Basis of the property when it is sold.

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Can I deduct well installation cost on Vacant land sale?

You can add the cost of the well to the Adjusted Basis of the property when it is sold.

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