Can an account from Audible.com or Amazon's equal be deducted?
I'm curious if anyone has tried to deduct the cost for an account on Audible.com or a similar audiobook database subscription on their taxes? Can you justify that there is enough real estate related content to write off the subscription cost?
Thanks, BP!
Anthony
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Steve Vaughan
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#1 Personal Finance Contributor
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- East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
An important thing I learned as a new landlord was anything you spend on a new to you property before it is put 'in service' goes only toward your cost basis, whereas repairs and maintenance/cleaning done after it's put in service can be expensed that year.
So... get your new property 'in service' as quickly as possible. Some interpretations state in service can be as soon as you advertise it for rent, but run it by your tax professional @Anthony Drew Gary.