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Investors & landlords
Unfortunately, no deduction is allowed for travel in a general
investigation or search for new business or investment opportunities.
When you travel to explore a specific investment opportunity and you make the investment, your travel expenses are not deductible; they are added to the basis of the investment.
Again unfortunately, being a "real estate professional" doesn't change this rule. Of course, your travel expenses to service your present properties is deductible.
‎June 5, 2019
5:12 PM