Discussion:Real Estate Pro- investigation expenses
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| Revision as of 19:33, 24 September 2006 Vaughn (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 19:58, 24 September 2006 Lois (Talk | contribs) (Rental Propertie) Next diff → |
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| Any deduction for the cost of the trips on Schedule C? | Any deduction for the cost of the trips on Schedule C? | ||
| How about a miscellaneous itemized deduction?}} | How about a miscellaneous itemized deduction?}} | ||
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| + | {{ForumReplyPost|UserID=Lois|Date=24 September 2006|Text=Rental Properties are reported on Sch E not C - so the expenses would not be on her Sch C. I am assuming her Sch C is her business as a Realtor? On a side note - if she is a Sch C as a realtor is she at a minimum a PLLC or probably should be a PC. | ||
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| + | If the primary purpose of the trip was for investigation and she has proof of the extend of work performed etc. Then the expenses would be deductible. I'm thinking they would be investment expenses as a misc itemized deduction.}} | ||
Revision as of 19:58, 24 September 2006
Discussion Forum Index --> Tax Questions --> Real Estate Pro- investigation expenses
| 24 September 2006 | |
| A real estate pro traveled to Hawaii to investigate several properties for purchase to be her own rental properties.
No properties were purchased. Any deduction for the cost of the trips on Schedule C? How about a miscellaneous itemized deduction? | |
| 24 September 2006 | |
| Rental Properties are reported on Sch E not C - so the expenses would not be on her Sch C. I am assuming her Sch C is her business as a Realtor? On a side note - if she is a Sch C as a realtor is she at a minimum a PLLC or probably should be a PC.
If the primary purpose of the trip was for investigation and she has proof of the extend of work performed etc. Then the expenses would be deductible. I'm thinking they would be investment expenses as a misc itemized deduction. | |
