Rental Property Hunting expenses

[Kim Leduff]

Hi BPers,

When it comes to tax time, were are you accounting for your rental property search expenses? the house hunting expenses? Are you putting them on schedule C since they arent necessarily assigned to any particular property?

Same with a real estate course I recently took?

Thanks in advance!

Kim

[Bruce Woodruff]

Originally posted by @Bill B.:

I BELIEVE none of those expenses are deductible until you buy something then they go to that property. Otherwise a lot of people would property search in Fiji and Hawaii every year and fail to find anything. 

You mean I gotta stop doing that? :-)