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Updated about 8 years ago on . Most recent reply

User Stats

57
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12
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Anthony Drew Gary
  • Developer
  • Indianapolis, IN
12
Votes |
57
Posts

Can an account from Audible.com or Amazon's equal be deducted?

Anthony Drew Gary
  • Developer
  • Indianapolis, IN
Posted

I'm curious if anyone has tried to deduct the cost for an account on Audible.com or a similar audiobook database subscription on their taxes?  Can you justify that there is enough real estate related content to write off the subscription cost?

Thanks, BP!

Anthony

Most Popular Reply

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10,250
Posts
16,108
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,108
Votes |
10,250
Posts
Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

An important thing I learned as a new landlord was anything you spend on a new to you property before it is put 'in service' goes only toward your cost basis, whereas repairs and maintenance/cleaning done after it's put in service can be expensed that year.

So... get your new property 'in service' as quickly as possible.  Some interpretations state in service can be as soon as you advertise it for rent, but run it by your tax professional @Anthony Drew Gary.

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