Tax deductible expenses for researching properties?

[Stephen Mendoza]

Under the assumption that there are no "dumb" questions...I am a newbie to real estate investing. Are the expenses I incur researching properties tax deductible? What about mileage expenses when driving out to various property sites? I tried researching IRS publications but could not find anything related to this type of activity. Any advice is appreciated.

[Account Closed]

An investor that travels to look at properties and has no other properties in the area or doesn't purchase any properties in the area will not be allowed the travel deduction. On the other hand if this was a real estate business this might be tax deductible.

There are definitely more deductions available when an investor becomes a legitimate business.