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Updated over 6 years ago on . Most recent reply

Jonathan Roberts's profile image
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Jonathan Roberts
  • Rental Property Investor
  • from Austin, TX
  • Member since May 14, 2017
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Jonathan Roberts's profile image
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Jonathan Roberts
  • Rental Property Investor
  • from Austin, TX
  • Member since May 14, 2017
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Jonathan Roberts
  • Rental Property Investor
  • Austin, TX
21
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43
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Tax, SDIRAs & Cost Segregation

How to write off inspection/appraisal expenses

Jonathan Roberts
  • Rental Property Investor
  • Austin, TX
Posted
I recently did an inspection and appraisal on a property that I did not end up purchasing. I own one other rental property in a different state. How can I use this to offset my rental income? I do not have my property in an LLC.
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
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@Jonathan Roberts  Doesn't matter as long as they're trade or business related.  You'll write them off as losses on Form 4797.

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