Travel expenses for real property purchase
If you travel out of state for the purpose of finding real property to invest in and hold onto, can you deduct your travel, meals, and other related expenses, and if so, where would you. I'm a CPA, but having only been preparing tax returns just recently, and I'm having trouble finding guidance on this. A client has family in another state, and a family member suggested he buy property in that state for investment purposes because there were some good deals to be found. He made several trips back there and purchased 2 parcels of land - one is vacant land and the other has a home on it. He wants to sell the vacant land for a profit. He may rent out the home - he's undecided there. Any guidance you can offer would be appreciated.