REI Education costs on start up? Tax deductible?

[Andrew S Austell]

Ok,

Started a 2 person partnership last year. The idea is to invest in short term rental property. We formed the LLC, and paid for some informative seminars and conferences. We (the partnership) have yet to buy a property and realize income but it is certainly on the horizon.

Can we deduct the cost of the seminars? 

would you think they would classify as "start up" costs for tax purposes? 

Should we wait til we have income before bothering with a 1065 partnership tax return, K1s etc...?

Thanks!

[Eamonn McElroy]

@Jacob Sampson

Well...you got the last sentence right.  : )

OP should not "definitely write it off as a business expense".  These are start-up costs and capitalized until the trade/business or income producing activity begins.  IRC Sec 195.