STR Tax Write Off

[Anthony Silva]

I go and stay at my STR a few times a year to check in on the property and make updates or repairs where it is needed. I know that I can write my travel, supplies, and food expenses off of my taxes while on that trip. But can I write off the cost of each night to stay at my STR since it would be making money if I wasn't staying there?

[Ricky A.]

I'm sure you could...as long as you're actually paying that expense to someone...oh wait, that person would be yourself...so you'd need to both record the income of you paying yourself as well as the expense of yourself paying you.  It's a wash. (Which actually matches what really happened...you didn't pay anybody, and you didn't receive any pay for your stay.)

In other words, there are no phantom expenses.  

Would you be making money if you weren't staying there?  Sure, but you also wouldn't be incurring the loss (i.e., expense) of you staying there at the same time.  So in that case, you would be making net income.  But in this care, you're not.  It's a wash.