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Hi, folks,

I asked about this on the Real Estate investing board, and they directed me here. Checking the archives, I can't find this particular case, so...

I own a plot of land near a lake, in a recreational weekend community. The area is growing up reasonably quickly and the land values are increasing proportionally. I have no plans to build a vacation home or whatever in the next decade or so, but at some point will either build-and-sell, or just sell, since chances are good my job will take me elsewhere by then anyway. So it's strictly a non-income-generating property (i.e. can't rent it out), and will most likely remain that way.

But I am viewing it as an investment property, since at the present time I have no plans to develop and make use of it myself as, say, a second home.

The question is this: Can I (successfuly and legally) deduct the association fees on my taxes, given that the land is an investment but not presently generating income?

The answer is pretty clearly "yes" for rental properties, but this is a different situation and, as I said, I couldn't find a definitive answer.

Thanks much,

- Lewellen180
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