You are subject to the uniform capitalization rules if you do any of the following in the course of a trade or business or an activity carried on for profit:
Base on your information (1) you are holding the tract of land in your course of a trade or business - because it is held in LLC; (2) the property was acquired for resale - therefore you are subject to the uniform capitalization rules.
Under the uniform capitalization rules, you must capitalize the direct costs and part of the indirect costs for production or resale activities. Include these costs in the basis of property you produce or acquire for resale, rather than claiming them as a current deduction. You recover the costs through depreciation, amortization, or cost of goods sold when you use, sell, or otherwise dispose of the property.
According to the uniform capitalization rules (UNICAP) for costs that benefit or are directly associated with the production activities should be capitalized.
Indirect Costs Required to be Capitalized
Indirect Costs Not Required to be Capitalized
Based on your information - real estate taxes and interest on the mortgage should be capitalized - or added to the basis of the property.