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Visitor I

Improvements to raw investment land

I purchased acerage in 2017 as an investment; I hope to sell it within the next 5 years.  It has an old barn but that is the extent of the "improvements".  I am slowly repairing the fences and hope to get to the barn in 2018.  I drive up to do the repairs and incur the typical lodging/meal expenses.

 

I understand where/how to deduct the property taxes, and have no interest payments (a cash transaction), but where/how do I deduct the repair expenses and mileage/lodging/meals?  I understand my "sweat equity" is not deductible, correct?

 

Thanks for any advice you can offer.

 

R