Comments on: If I’m planning to buy real estate out of state, are my trips to look at properties deductible?

By: gabriel070286

gabriel070286 — Mon, 15 Feb 2010 06:47:56 +0000

thermage body contouring If it is for investment property

By: bostonianinmo

bostonianinmo — Sat, 13 Feb 2010 23:51:38 +0000

Hershey Pa Real Estate You can deduct travel costs for properties that you already own, not for properties you do not yet own. The costs must be related to the generation of rental income such as maintenance and inspection, meeting prospective tenants, handling leases, evictions, etc.

By: Judy

Judy — Thu, 11 Feb 2010 21:16:42 +0000

For Sale by Owner You can deduct ordinary and necessary travel expenses to manage or maintain investment property that you already own. I don't know just where you'd deduct the type of trip you are describing on a personal return, unless you were in the business of investing in property. You would want to have a very good explanation ready for an IRS auditor as to why you wanted to buy investment property somewhere far from where you live - that it was truly for investment reasons, not personal.

By: P J

P J — Mon, 08 Feb 2010 11:33:59 +0000

Body Thermage If it is for investment property perhaps but not for a personal residence.