Land held for investement...where to deduct taxes, interest etc. if no Sch A?

[AZ-Tax]

TP purchased unimproved land/property. TP pays property taxes, mortgage interest, insurance, landscape maintenance etc. relating to maintaining the land/property BUT does NOT file a Sch A thus takes the Std deduction. I read somewhere that the TP could track TP's purchase price plus including all related fees, prop taxes, interest etc. on a spreadsheet then if TP sells land w/o any improvements, the TP that tax year can add to his purchase price, the accumulated property taxes, mortgage interest, insurance, landscape maintenance etc. to calculate cost basis. Sound correct?

[TaxGuyBill]

Yes, BUT the taxpayer needs to make an election every year to do that.

https://www.law.cornell.edu/cfr/text/26/1.266-1#b

[TAXNJ]

Bill

Yes, BUT the taxpayer needs to make an election every year to do that.

https://www.law.cornell.edu/cfr/text/26/1.266-1#b

Heads up. Moderator told posters not to use links anymore. See moderator post

[Burke]

Yes, to interest, taxes and improvements, including landscaping. However, IMO, regular maintenance such a grass mowing, etc would not come under these categories.