“Can You Deduct a Real Estate
Investing “Boot Camp?”
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Here’s a version of questions I get very often at the Tax Reduction Letter.
It concerns attendance at real estate investing boot camps, seminars, and the like:
I am a full-time real estate investor. In May, I paid about $15,000 for a one-week boot camp.
I know that the law doesn’t allow deductions for investment seminars. Does that mean I can’t deduct my tuition and travel to the boot camp?
Here’s the straight answer to the question.
Your deductions for the boot camp depend on the answer to this question:
Are your real estate activities a business
or an investment?
- If your real estate activities constitute a business, you can deduct all the costs of the boot camp, including travel to and from.
- If your real estate is simply an investment, the costs of the boot camp are not deductible.
How can you tell if you’re an investor
or someone in the real estate business?
This is where the Tax Reduction Letter can help you big time.
You see, we’ll provide indicators that will help you determine your status. Indicators that will help keep the IRS happy if an auditor comes knocking.
To find out more, read my new article and have a great time at boot camp!
CLICK HERE and read my completely new article titled:
“Can You Deduct a Real Estate
Investing “Boot Camp?”