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Updated almost 9 years ago,

User Stats

67
Posts
14
Votes
Eric Tan
  • Rental Property Investor
  • Park Ridge, IL
14
Votes |
67
Posts

Can I deduct international travel to pursue certain real estate.

Eric Tan
  • Rental Property Investor
  • Park Ridge, IL
Posted
Newbie investor seeking advice. Currently have a duplex and my plan is to purchase a multi family every year or two years. I listened to Mrs Han's podcast about the tax savings for the savvy investor regarding travel. We are going to Ecuador to look at a few properties to either flip or develop as we have family there as our boots on the ground. If it turns out that we do not make any deals during the trip what documents do I need to be able to deduct the trip and any expenses during the trip? Do I simply email the real estate agent to make appointments to see the properties? Am I able to do any of this if I'm not considered an "active" investor? Tons to consider. I appreciate any advice that will point me the in the right direction.