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Updated over 7 years ago,
Can trip expenses to go buy a first house be tax deductible?
Good evening to all.
I am just getting started in my RE investment journey and after long thoughts I have finally decided to invest in Wichita, KS even if I live in San Diego. I have lived there for a couple of years and that market can offer some very nice CoC ROI and I have people there whom I can trust on helping me screening potential houses.
I have just finished reading this wonderful book "Tax strategies for the savvy RE investor" which I would highly recommend for any RE investors. From this book, I took that business trips such as travelling to go check on your houses are tax deductible. So in my case that I don't have an investment yet and I would use that trip to go check on the property myself before closing, and also meet my realtor, perspective property management and some contractors. Could this trip be qualified as a business one and be tax deductible?