My wife and I purchased 20% (10% each) of a 1/2 section of farmland. my father already owned 60% and my brother bought the other 20%. where do I input just my costs?
My wife and I purchased 20% (10% each) of a 1/2 section of farmland. my father already owned 60% and my brother bought the other 20%. where do I input just my costs?
I am referring to loan interest costs for just my wife and I.
My wife and I purchased 20% (10% each) of a 1/2 section of farmland. my father already owned 60% and my brother bought the other 20%. where do I input just my costs?
You generally don’t need to report
the purchase of land until you sell or dispose of it. At that time you can add
your expenses to the Adjusted Cost Base of the property.
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