What costs should be capitalized to "land"?

Name: What costs should be capitalized to "land"?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Property transfer tax is directly associated with the acquisition of land and should be capitalized as part of the land cost. Other costs like construction permits, engineering surveys, and interest during construction are typically associated with the construction of a building on the land, not the land itself.

What Costs Should Be Capitalized to "Land