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Updated almost 9 years ago on . Most recent reply
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Deducting misc rental real estate expenses without LLC
Aloha BP nation, I am using HR block software for taxes this year, although I will likely still use a CPA. I was wondering one thing, would all the following expenses go under a specific property, or is there another section/method for deducting these RE related business expenses. For example:
- Wholesaling campaign (ie. purchased letters, envelopes, and stamps)
- Mileage expenses (obviously for repairs/showings they would go under the property you are driving to, but I am referring now to miles driven say to a REIA meeting, or to meet with a realtor/investor to discuss business)
- REIA membership fees
- Business related expenses to look at property away from hometown
- RE/business books etc. etc. etc.
Let me reiterate, these expenses I mentioned don't fall under any specific property, except for maybe the wholesaling can be associated with the property purchased after it, but you see what I mean with the others. I would think this basic question would apply to the many (most?) landlords who are not operating under LLCs.