Sale of vacant land, never used. Schedule 3. Please advise what deductions can be used. IE Legal, HST, Real Est Comm, Property taxes? Bought - 2005, sold -2017 (Gain).
Please advise what expense if any can be used to calculate the adjusted cost base.
011665
1 Best answer
TurbotaxRobert
Level 2
Oct 30, 2019 12:31:45 PM
See the below article to determine the circumstances under which you may be able to claim certain carrying charges that you incurred on the land as an adjustment to the cost base of the land.
See the below article to determine the circumstances under which you may be able to claim certain carrying charges that you incurred on the land as an adjustment to the cost base of the land.