Buying land
Varies
Can You Write Off Buying Land?
Short answer: No deduction for the purchase; land never depreciates, though property taxes on it are deductible if you itemize.
Costs to buy it go into the land's basis.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
BW-B23-00469
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Buying land
Varies
Individuals / Personal Taxes
Other Expenses
Personal Tax Deductions
No deduction for the purchase; land never depreciates, though property taxes on it are deductible if you itemize.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
No deduction for the purchase; land never depreciates, though property taxes on it are deductible if you itemize. Costs to buy it go into the land's basis.
Category
- Personal Tax Deductions
personal deduction
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home mortgage
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