Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 7 years ago,
Flippers: Do you deduct the mileage when returning to your home?
Hello,
I assume you can only decut mileage going to the property, warehouses, meetings, etc., and you do not take note of the mileage when returning to your primary residence correct?
I am in the state of FL and will be meeting with my CPA shortly, but anyone knowledgeable in this field would be greatly appreciated.
**ALSO** I've read that if you do not have a "home office", you can only deduct mileage going from one business location to another (ie: investment property to Lowe's), and you CANNOT deduct mileage for going to your property from your personal home. Does that sound accurate?