Tax Deductions for Out-of-State Investors

[Michael Keane]

Hello BP Community!

I am an out-of-state investor located in New York. Two questions regarding tax deductions in connection with out-of-state investment properties:

1. Following acceptance of an offer on an out-of-state property, I traveled to the property to meet with the realtor, owner, and inspector and complete the walk-through. Three weeks later, I closed on the property. Are travel expenses (airfare, hotel) incurred after acceptance of the offer but prior to the down payment/closing tax deductible? 

2. Separately, are travel expenses to an out-of-state property paid for with credit card reward points tax deductible?

Thank you!