travel expenses mileage
What are deductibles for the capital gains tax for buying real estate? My out of trips?gatrips, motels?
We bought land in VT and just sold it. Can we deduct the travel expenses to attend the closings, i.e., mileage, motels, ???
Yes you calculate the gain on the sale as the selling price minus the purchase price (when you bought it) plus all costs for improvements. You also add all the cost to sell the property including commissions and mileage — to the costs you incur.
Selling price – Purchase price – improvment costs – costs to sell = gain.
9/11 EndtimeWatchman! WallStreetGuy Calls In About Alternative Fuel & Gas mileage! June 23 2010
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