Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated 2 months ago, 09/24/2024
Tax deductions for mileage when managing property for parents?
Hi, my parents live in California and recently purchased two investment properties in Atlanta, GA. I am taking care of the properties for them (repairs, getting tenants, etc.). My parents are not paying me as a property manager and I don't want to be paid because I don't want to deal with California state income taxes or other additional tax burdens (and more so, because they are my parents). But I'm wondering if there is a way my parents or I can claim mileage deductions on taxes for my travel related to taking care of their properties. Has anyone dealt with this issue before? I wasn't able to find anything from an Internet search...