Mileage expense - can I expense during rehab?

[Mike Wilson]

I know that as a landlord manager of my properties I can deduct at a rate of $0.56/mile the cost to drive to my rentals as long as I keep good records and for certain approved activities such as collecting rent; going to make repairs, etc. However, I'm looking a purchasing a fixer-upper that will take lots of trips and is about an hour away. Would be about $40/round trip in expenses if allowed. I am thinking that I can only expense after the place is being rented and expenses against rental income. Can someone tell me if I have a valid expense I can collect during the rehab period?

[Ricky A.]

$0.56 was the 2021 mileage rate.  

Jan 1 - Jun 30, 2022 was $0.585.  

Jul 1 - Dec 31, 2022 is $0.625.

2023 will probably be announced mid-to-late Dec.

https://www.irs.gov/newsroom/i...