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Rental Property Travel
I traveled to my rental property, ~1800 miles round trip, in my personal vehicle. I went to fix an issue with the water, deliver/install a new stove, and clear snow from the driveway. The trip was a 2.5 day trip. My expenses were food, gas, and tolls. This is the only time I have used my vehicle for the rental property. What can I deduct and where would I put it?
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Rental Property Travel
@jackbot70 wrote:
What can I deduct and where would I put it?
The expenses are entered on Line 6 of Schedule E but, in TurboTax, you need to start in the Rental Properties and Royalties section of the program and enter them separately (travel is entered under Expenses while your personal vehicle expenses are entered under Vehicle Expenses).
For auto and travel expense rules relating to rental property see the following link.
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Rental Property Travel
Your travel expenses related to the maintenance of your rental property are deductible on Schedule E (Rental and Royalty Income and Expense Schedule).
You will need to be sure to keep your receipts for your travel expenses as well as mileage records to document your expenses. TurboTax will walk you the deductions for Travel as well as for the Auto-related Expenses.
Special Note: Although you can include Food as part of your Travel expenses, that deduction is limited to 50% of the total cost of your meals.
For more detailed information, I am including a 2 links to IRS publications.
Publication 463 Chapter 1, details the rules related to Travel and Auto Expenses:
Travel, Gift, and Car Expenses
Publication 527 at the bottom of page 4 details travel expenses as they are related to rentals and the entire publication is devoted to other information regarding rental properties. Rental Properties
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