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March 5, 2025
Question

Property tax expense for investment vacant land

  • March 5, 2025
  • 1 reply
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Can I enter property tax expenses on undeveloped land I hold for investment purposes? If so, where do I enter that? Can I deduct HOA and/or Fire/Water assessment fees (even though there is no water connection to the property). 

    1 reply

    March 5, 2025

    If you itemized your deductions, you can deduct property taxes paid on vacant land as a personal itemized deduction on Schedule A and is subject to the $10,000 state and local taxes limit.

    HOA and Assessment fees are not deductible. 

    Where do I enter my real estate (property) taxes in TurboTax?

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