Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
johnscarf
Level 1

Can I use travel expenses from the US to Peru as part of the sale expense/cost for the sale of a vacation home in Peru?

My wife and I sold a vacation home in Peru. We needed to travel to Peru for the sale and signing of documents. Can these costs be counted as a sales expense? 

1 Best answer

Accepted Solutions
Vanessa
Level 3

Can I use travel expenses from the US to Peru as part of the sale expense/cost for the sale of a vacation home in Peru?

No, unless this property was a rental property, travel expenses would not be deductible.

If this was just a vacation home, the only way the expenses could potentially be deducted depending on several more factors would be as an investment expense.  However, under the new tax laws investment expenses are no longer deductible so your travel expenses to sell your vacation home are not deductible. 

 If it was a rental property you would enter the travel in the rental expense section. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
Vanessa
Level 3

Can I use travel expenses from the US to Peru as part of the sale expense/cost for the sale of a vacation home in Peru?

No, unless this property was a rental property, travel expenses would not be deductible.

If this was just a vacation home, the only way the expenses could potentially be deducted depending on several more factors would be as an investment expense.  However, under the new tax laws investment expenses are no longer deductible so your travel expenses to sell your vacation home are not deductible. 

 If it was a rental property you would enter the travel in the rental expense section. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

Manage cookies
v