investment property

[Possi]

If someone has investment property, a vacant house in booger's woods he is fixing up to sell, are his travel expenses deductible as investment expense?

What about travel expense to make rental property habitable? It was not ready to rent when all the traveling was done which took 11 months. It was ready to rent in December '05 but with no income. And it's enough travel that, I would think, would be questioned.

I'm thinking yes to the first one and no to the second.

What say you?

[Gretel]

I agree with you, Possi.

But as you already said, there are smarter minds out there and most important, more experienced. I learned a lot after doing taxes for 5 years and becoming an EA, but I am still scared just thinking how naive I was when I started my business.