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February 14, 2021
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Do property taxes increases the basis for an investment property?

  • February 14, 2021
  • 1 reply
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I have an investment property that I've held and paid property taxes for many years.  Can the property taxes be used to increase the basis for the property?

 

Thanks - Jim

    Best answer by ColeenD3

    Yes, but only if you do not pay them. As you already have paid them, it will not add to the basis.

    1 reply

    ColeenD3
    ColeenD3Answer
    February 14, 2021

    Yes, but only if you do not pay them. As you already have paid them, it will not add to the basis.