Can you write off expenses that were incurred before you bought a property?

[Bryan Odom]

Hello everyone,

I'm a new investor and haven't bought a property yet. I've read that you can write off expenses such as conference registration fees and mileage. I plan to purchase my first property before it's time to file taxes in April, 2024. If I do, can I write off mileage related to driving to a meetup that took place before I actually purchased a property? If I don't have a property by the time I file, can I write off any expenses?

Thanks in advance for your time! I really appreciate the willingness of people on this forum to answer questions.

[JD Martin]

Quote from @Bryan Odom:

Hello everyone,

I'm a new investor and haven't bought a property yet. I've read that you can write off expenses such as conference registration fees and mileage. I plan to purchase my first property before it's time to file taxes in April, 2024. If I do, can I write off mileage related to driving to a meetup that took place before I actually purchased a property? If I don't have a property by the time I file, can I write off any expenses?

Thanks in advance for your time! I really appreciate the willingness of people on this forum to answer questions.

 You can do anything you want until you have to prove your case in an IRS audit. Without owning anything, you are not an investor. So I would think really hard about deducting expenses for non-existent rental property.