Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

85
Posts
21
Votes
Adam Smith
  • Civil Engineer
  • Firestone, CO
21
Votes |
85
Posts

Tax Question - Investigating New Markets

Adam Smith
  • Civil Engineer
  • Firestone, CO
Posted

Happy New Year BP!  We have two rentals locally and are looking into new markets since our local market is higher priced vs rents.

My question is, can we write off (for taxes) the cost (or some of the cost) of traveling to a new market (out of state) to look at properties to purchase and rent, meet with property managers, etc?  We obviously do not have a rental yet in the new state so we would not have a property in that state to write it off against.

Based on my research I don't think we can but I thought I would ask just to make sure.

We are meeting with our CPA in January which I plan to ask as well.

Thanks in advance!

  • Adam Smith
  • Loading replies...