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Updated over 4 years ago on . Most recent reply
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Mileage deduction on fix and flip
Question 1: I completed my first FLIP a couple months ago. I kept track of all my mileage assuming this was a deductible expense. I'm not sure I did it correctly vs the IRS though. On days that I went to the property after getting off work at my W2 job, I logged the miles from (work>property>home). Now I'm questioning if I am only allowed to expense (home>property>home). Clarification would be great.
Question 2: Now I am searching for a RENTAL property. Is my mileage deductible as I drive to look for properties, look at properties with an agent, etc.? Office supplies and postage for mailing letters to owners??