Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
B
beth483
June 6, 2019
Question

I bought raw land in 2017 as an investment. Where do I enter mortgage interest and property taxes in turbo tax? can I deduct traveling expenses to look for land to buy?

  • June 6, 2019
  • 1 reply
  • 0 views
If so,  where do I enter traveling expenses in turbo tax?

1 reply

M
mglauner
June 6, 2019

You can enter your property taxes in the DEDUCTIONS & CREDITS section. Interest on the purchase of land for personal use is not deductible. 

If you are not using the land to generate income, you cannot deduct the traveling expenses, but can add the amount to your 'basis' in the property, which will be considered if you sell or rent the property later.

Here's more info:

https://ttlc.intuit.com/replies/5123358

TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification