Can I deduct the expense of a inspection for a rental property that I did not end up purchasing. I have other rental properties and I am a licensed real estate agent

[DS30]

Yes,  you may be able to deduct these inspection fees as part of your business expenses as a real estate agent. You can think of them along the same line as Open House fees for properties that don't sell. 

Any expense for your real estate business is deductible if it is:

• ordinary and necessary;
• directly related to your business; and
• reasonable in amount

For more information about general business deductions, please refer to this link:

https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Deducting-Business-Expenses

[tomzen]

How to enter that inspection fee to the property assets? Thank you!