topic Can I deduct the property taxes I paid over the years from capital gain of a vacant land sale? in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/can-i-deduct-the-property-taxes-i-paid-over-the-years-from-capital-gain-of-a-vacant-land-sale/01/918157#M3504 Wed, 30 Oct 2019 19:14:54 GMT turbotax-user1 2019-10-30T19:14:54Z Can I deduct the property taxes I paid over the years from capital gain of a vacant land sale? https://turbotax.community.intuit.ca/community/investments-rentals/discussion/can-i-deduct-the-property-taxes-i-paid-over-the-years-from-capital-gain-of-a-vacant-land-sale/01/918157#M3504 Wed, 30 Oct 2019 19:14:54 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/can-i-deduct-the-property-taxes-i-paid-over-the-years-from-capital-gain-of-a-vacant-land-sale/01/918157#M3504 turbotax-user1 2019-10-30T19:14:54Z See the below article with respect to the deductibility o... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/see-the-below-article-with-respect-to-the-deductibility-o/01/918158#M3505 <P>See the below article with respect to the deductibility of carrying charges of vacant land.&nbsp; 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.</P><P> <A href="http://eprnv.ca/wp-content/uploads/2013/02/Deducibility-of-carrying-charges-of-vacant-land-Scriv-Winter-13-online.pdf" rel="nofollow" target="_blank">http://eprnv.ca/wp-content/uploads/2013/02/Deducibility-of-carrying-charges-of-vacant-land-Scriv-Win...</A> <BR /> </P> Wed, 30 Oct 2019 19:14:55 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/see-the-below-article-with-respect-to-the-deductibility-o/01/918158#M3505 TurbotaxRobert 2019-10-30T19:14:55Z
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topic Can I deduct the property taxes I paid over the years from capital gain of a vacant land sale? in Investors and rental owners
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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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See the below article with respect to the deductibility o...
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<P>See the below article with respect to the deductibility of carrying charges of vacant land.&nbsp; 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.</P><P> <A href="http://eprnv.ca/wp-content/uploads/2013/02/Deducibility-of-carrying-charges-of-vacant-land-Scriv-Winter-13-online.pdf" rel="nofollow" target="_blank">http://eprnv.ca/wp-content/uploads/2013/02/Deducibility-of-carrying-charges-of-vacant-land-Scriv-Win...</A> <BR /> </P>
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