I got an appraisal for a lot prior to selling it. Can I deduct the cost of the appraisal from the capital gains made on the lot? Would this deduction in turbo-tax be captured in the section labeled "Enter Land Sale Information" where it says "Sale Expenses Not Reported on form 1099-B?
Those would be considered closing costs. They are not considered tax deductible, but will increase your cost basis.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©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
