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What was the real estate going to be purchased for? If it was for your personal residence it would not be deductible. If it was property for an existing business or ongoing rental activity it may be deductible.
What was the real estate going to be purchased for? If it was for your personal residence it would not be deductible. If it was property for an existing business or ongoing rental activity it may be deductible.
If you were in an existing business that does this, the costs would be a deductible business.
If not, and if the acquisition failed you likely would have no deduction as they were not expenses of an existing trade or business..
If I am a primary member of an LLC whose focus is real estate rental property acquisition, could the expenses for a feasibility study on a property the LLC did not purchase be deducted?
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