Tax Deduction for Property Survey?
I'm in the process of finding a good accountant in my area, but I was hoping the community could help me with a question while I search.
I bought a property as my primary residence. I'm exploring building a guest house/duplex on an empty part of our lot to rent. I have to have a survey done first and have initial plans drawn up by an architect.
Can I deduct these even though I do not yet have any property I am renting and I may never end up building? We needed the survey to comply with zoning regulations and the contracts I talked to need initial plans before they will give me a quote. So, these are all needed to decide if it will even be feasible to build a guest house/duplex to rent.