[quote=FormerSanDiegan][quote=sdrealtor]and write the trip off![/quote]
I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.
However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.
Going off memory here. Consult a tax advisor.[/quote]
I’m pretty sure you’re right. We did long distance landlording with my husbands (premarriage) house. He’d combine trips to visit family in Philly with doing maintenance and repairs. His airfare was deductable according to turbo tax. (and he stayed with family so there was no lodging associated with these working vacations.)
