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Old 02-19-2012, 05:28 PM
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rental

Is there a minimum on travel expenses---fix window--plumbing----yard work--milage allowed????How would it be calculated??



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Old 02-20-2012, 10:34 AM
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“Is there a minimum on travel expenses---fix window--plumbing----yard work--milage allowed????How would it be calculated??”-----> The cost of repairs made to the rental property will also create a tax deduction. Repairs must be reasonable in nature and cost to be eligible for a deduction according to IRS guidelines. Some examples of reasonable repairs may include repairs to a leaking roof, repainting walls and replacing defective plumbing components. Rental property owners should note that it is repair costs and not improvement costs that are tax deductible. Improvements are projects that add value to the property, while repairs are projects that only maintain value. Travel expenses incurred by the rental property owner to maintain or manage the rental property are tax deductible. Some examples would be meeting with repair service providers, collecting rent payments and going to the store to buy supplies. Travel expenses related to property improvements are not deductible. You, as a rental pty owner, may choose to deduct actual costs or use the IRS's standard mileage rate, but not both.The IRS standard mileage rate is 50 cents per mile for 2010 and 51 cents per mile for



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