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Can I deduct the property taxes I paid over the years from capital gain of a vacant land sale?

 
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Can I deduct the property taxes I paid over the years from capital gain of a vacant land sale?

See the below article with respect to the deductibility of carrying charges of vacant land.  Note that it does indicate that for property taxes to be considered a part of the adjusted cost base of the land, the land must have been held as part of a business or for rental purposes. In any other cases, the addition-to-the-cost basis will not allowed.

http://eprnv.ca/wp-content/uploads/2013/02/Deducibility-of-carrying-charges-of-vacant-land-Scriv-Win...

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Level 2

Can I deduct the property taxes I paid over the years from capital gain of a vacant land sale?

See the below article with respect to the deductibility of carrying charges of vacant land.  Note that it does indicate that for property taxes to be considered a part of the adjusted cost base of the land, the land must have been held as part of a business or for rental purposes. In any other cases, the addition-to-the-cost basis will not allowed.

http://eprnv.ca/wp-content/uploads/2013/02/Deducibility-of-carrying-charges-of-vacant-land-Scriv-Win...

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