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csewell56
April 13, 2020
Question

Investment for land

  • April 13, 2020
  • 1 reply
  • 0 views

I recently purchased land as an investment..  Can the cost of the land be used as an expense?

    1 reply

    DMarkM1
    DMarkM1
    April 13, 2020

    No that is not an expense.  The cost of the land is your basis in the property.  When you dispose of the property at sometime in the future that cost basis will determine your gain or loss on the disposition.  

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