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
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 10 years ago,
marketing costs deduction?
Tax time! i have expenses for marketing with yellow letters and foreclosure subscriptions. I did not wholesale a property but I did buy one from my marketing efforts. Where and how should I deduct these costs. Do they go towards my basis for the property bought? I own two rentals if that matters. Are these acquisition costs even deductible here or only if i am operating a wholesale business?
Thanks for any insight. And yes Im thinking I'm going to use a CPA this year but I'll still figure my own taxes in turbotax for comparison.