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February 11, 2023
Question

Easement costs

  • February 11, 2023
  • 1 reply
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We had to pay for easement to property that was purchased over 25 years ago. Easement had never been recorded. We paid 2 separate parties across 2 parcels of land. We also had legal fees and survey fees associated the the easement. Would all of this (legal fees, survey fees and payment to property owners) be deductible expenses? 

1 reply

February 11, 2023

They are not deductible expenses now if it is your residential property, but you would be able to use as an adjustment of basis if you have a gain when you sell the property.