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Updated over 8 years ago,
Tax Question on Direct Mail Expense
Up front disclosure, taxes are not my area of expertise neither is direct mail. I have a question in to my CPA on this and was curious what the tax pros on BP would say. I did some direct mail marketing for several months which resulted in me purchasing a property recently as a buy and hold. The property was purchased outside of any legal entity (in my own name) and is the only property I purchased from the direct mail. Can this direct mail expense be attributed directly to the purchased property in some form as an expense? The property was purchased with a tenant in place so it was immediately in service if that matters. How do I take the expense for the direct mail?