On Mar 24, 7:47 pm, "Phil Marti" <prm20...[at]verizon.net> wrote:

- quote -

If there is an IRC 266 election on this property, then all taxes,
interest, and probably all fees on this vacant land could be
capitalized, right?. The storm water fee sounds like a carrying
charge.

http://www.timbertax.org/research/re...reg1.266-1.asp

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<tech1190[at]yahoo.com> wrote:

- quote -

Property tax: Schedule A taxes

Interest: Schedule A investment interest

Fees: Unless someone can come up with a way to capitalize them, Schedule A
investment expense.

--
Phil Marti
Clarksburg, MD

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"Mark Bole" <makbo[at]pacbell.net> wrote
- quote -



In Clarke County Georgia......Storm Water Runoff Fee.....no kidding.




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Paul A. Thomas, CPA
Athens, Georgia

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tech1190[at]yahoo.com wrote:
- quote -

What kind of utility fees would you have on vacant land?

You can always deduct real or personal property tax based on the value
of property on your Schedule A.

The answer to your loan interest question requires more information.

-Mark Bole

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I have 2 small parcels of vacant land that I purchased as an
investment. Can I deduct the property tax, loan interest, property
owners fees and utility fees on these proeprties?

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >