Taxpayer purchased land in 2008 and was never able to itemize deduction.
Land was sold in 2021
Can the Real Estate tax be added on to the basis?
Thanks
Land was sold in 2021
Can the Real Estate tax be added on to the basis?
Thanks
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Everybody should pay his income tax with a smile. I tried it, but they wanted cash -
Not now. The taxpayer needs to make an annual election to capitalize the real estate taxes. See Reg. 1.266-1Originally posted by Brian EA View Post
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