spec home

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  • cathe
    Member
    • Jan 2007
    • 71

    #1

    spec home

    My mind has gone down a vortex tube.... A spec home has been built, it is in inventory, realtor fees for land purchase, are they added to inventory basis or expensed out as current year business expense? Where do I find this? I have not asked the right questions at IRS.GOV.

    Thanks,
    Cathe
  • dsi
    Senior Member
    • Dec 2005
    • 705

    #2
    IMHO, increase in basis.
    Dave, EA

    Comment

    • Davc
      Senior Member
      • Dec 2006
      • 1088

      #3
      Agree. Basis.

      Comment

      • BOB W
        Senior Member
        • Jun 2005
        • 4061

        #4
        Agree. Basis
        This post is for discussion purposes only and should be verified with other sources before actual use.

        Many times I post additional info on the post, Click on "message board" for updated content.

        Comment

        • Redneck
          Senior Member
          • Jun 2005
          • 184

          #5
          This

          might be helpful.

          Comment

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