Land Improvements
Can the cost of removing trees from a personal residence be considered a land improvement and added to the land basis?
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b_h0LOpxqr3QVhacfA8pyY
05/10/09 8:12am PDT
Viewed by asker 05/19/09 10:11am PDT
Viewed by asker 05/19/09 10:11am PDT
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ArchieLeach
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05/10/09 10:07am PDT
I can't find anything directly on point, but land improvement seems reasonable. I do know that land clearing expense in connection with commercial development is capitalized, and I think the same logic would apply here.
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Mt Juliet CPA
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05/10/09 11:07am PDT
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I agree with the thought process that it would be added to the land basis. If you were buying the land to construct the house and had to clear trees then in my opinion it would definitely be part of the basis of the property in question
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