How much per mile can I expense against the proceeds on a flip house?
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Not exactly. 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; HOWEVER, they are added to the basis of the investment.
The mileage rate for 2016 is .54 per mile.Not exactly. 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; HOWEVER, they are added to the basis of the investment.
The mileage rate for 2016 is .54 per mile.Still have questions?
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