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May 10, 2021
Question

I have land which I paid mortgage and property taxes on, is there a way to account for this?

  • May 10, 2021
  • 2 replies
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2 replies

Carl11_2
Employee
May 10, 2021

All mortgage interest and property taxes you pay on real estate that you own and that you are not using in a business for the production of income, is a SCH A deduction. You'll enter it in the "Your Home" section under the Deductions & Credits tab.

May 10, 2021

what is the land use for if anything or is it held as an investment?  

May 10, 2021

I guess you could say investment. Was intended for building a home on down the road, just not yet. Plans could change too.