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Updated about 4 years ago,
Vacation tax write off
I am a newbie but I am on my way to getting started. I visit Hawaii quite often for vacation but I want to a) look at possible rental real estate in Hawaii and b) if possible, write off my vacation for tax purposes. I was wondering if someone could please shed some light on what the criteria are to show to the IRA that this vacation was indeed for business purposes. I know some rudimentary info (more than 50% of the time needs to be spent on business), but all I will be doing is looking at prospective rental units, how do I document this so that it's sufficient for IRA purposes. I understand this question may be better suited for an actual CPA/tax consultant but thought I'd try here first, thanks!