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Updated about 5 years ago on . Most recent reply

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18
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Kevin Franklin
  • Investor
  • Fort Washington, MD
1
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Business Trip Write Off

Kevin Franklin
  • Investor
  • Fort Washington, MD
Posted

I purchased a ticket in December for a flight in mid-Jan strictly to visit one of my properties and attend a seminar.  Would this be a tax write-off for my 2019 tax return?  Also wondering if the expenses incurred during the trip (rental, hotel, etc.) can be a write-off toward this return as well or my 2020 return since the incidentals will actually occur in 2020.

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Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
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Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
ModeratorReplied

You're cash basis- 

So the expenses incurred in 2019 related to the trip would be deducted there, and expenses in 2020 on that return. 

I'd reach out to a tax pro to enusre you're fully deductible. Make sure that the majority of your day activities are business. 

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Kolodij Tax & Consulting

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