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Tax, SDIRAs & Cost Segregation

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Fred Stevenson
  • Investor
  • Baton Rouge, LA
49
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142
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Allowable tax deductions

Fred Stevenson
  • Investor
  • Baton Rouge, LA
Posted Nov 9 2014, 06:09

I'm an active investor, but I don't qualify as a professional REI. I'm trying to understand what types of business related expenses I can deduct. I have created an LLC that I will be using to buy my investment properties in.

If I take a trip somewhere to view investment properties, can I deduct those expenses from my earned income when I file? What if I bought a new computer and software to manage my investments?  Or are these expenses deductible only if I'm a real estate professional? 

Thanks. 

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