Question

deduction for property purchase in Greece

Forum|Forum|1 year ago
March 28, 2025
1 reply
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I bought a property in Greece last year (just the land, no building) and I wanted to see if I can write it off my taxes as a big expense or something like that. Im planning of building in the future but right now is just the land.

AmyC

No, it is an investment. Just like when you buy stock, you don't write it off when you buy it. You keep your records showing your purchase as the basis. Any improvements you make, like a building, will add to the basis.

Keep good records of all that you do.

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