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Investors & landlords
As stated by user tagteam, many of the items you listed such as meals, mileage, etc. are not included as part of the basis of your rental property. However, those types of expenses will become rental expenses after your property is rented and you are visiting the property to maintain it.
When you are working on your 2020 tax return and start to enter your information into TurboTax, there will be guidance for you to follow in order to enter all the items that are included as part of the basis for your property. Keep in mind that if you make any improvements to the property before it is placed in service, then the cost of those improvements will be included as part of the basis. Otherwise, your general assessment that the basis is the purchase price, plus adjustments, minus land is correct.
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