Looking for New Property on Vacation


T

Tax Tip

"Be sure to deduct the cost of expenses incurred while looking for new
property.Travel expenses in connection with the management of your
investments are tax deductible if they are ordinary and necessary. At
least half of the time you spent away on travel must have been spent
doing business, and the primary cause for travel must be business.
Common business expenses that you can deduct while scouting for new
investment properties are fees for travel, lodging, and services."

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