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The cost of land does not include

Customer Question
? A. real estate brokers' commission B...
The cost of land does not include ?
A. real estate brokers' commission
B. annual property taxes
C. accrued property taxes assumed by the purchaser
D. title fees
Submitted: 10 years ago.Category: Tax
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Answered in 8 minutes by:
10/11/2007
Tax Professional: Wayne Brasch, Accountant and Business Consultant replied 10 years ago
Wayne Brasch
Wayne Brasch, Accountant and Business Consultant
Category: Tax
Satisfied Customers: 1,298
Experience: Master of Science in Taxation. Tax experience since 1963.
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I would think the correct answer would be B. Annual property taxes. Those are currently deductible and need not be added to the cost of the property as would the other three items.
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