2018 Expenses on a Property I didn't own until early 2019

[Andrew Gingerich]

In late 2018 we did do-diligence on a property that we ended up closing on in January 2019. Specifically drove to the property many times, we did a home inspection, we did multiple walk throughs, and we paid for an appraisal. These expenses hit my books in December 2018 but we didn't own the property until mid-January 2019. Can I put these expenses on my 2019 tax return/schedule even though they were costs in 2018. I did not claim them on my 2018 return.

Thanks 

[Natalie Kolodij]

Those were expenses incurred to obtain the property- they get added to your overall cost of the property and add into your basis for depreciation.