Schedule E & C

[Carol Lyons]

Hi BP Members,

I currently own a multi-family and I am claiming my direct expenses using the Schedule E for repairs, depreciation, etc. However, I need to keep my expense low on the Schedule E for bank purposes; I am hoping to purchase another bank financed property in the next year.

I have a lot expenses from traveling to Investor groups and training materials that are not a directly related with my property, but are business expense (if things go well I will have my first rehab project in the next couple of months). Can I use a Schedule C for these expense even though I have not officially created an LLC?

How would people claim these expense?

-Carol