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Posted by nickravo1@gmail.com on March 27, 2008, 4:46 pm
Please log in for more thread options On Mar 28, 12:03 am, an_ordinary_guy_...@hotmail.com (Bill) wrote:
> nickr...@gmail.com (nickra...@gmail.com) posted:
>
> >I rent out two homes in South Florida. I am
> >currently living FT in Australia. I fly back to the
> >US once or twice a year. Can I deduct my
> >flights, rental cars, meals, hotel bills as part of
> >my expenses on the houses?
>
> A full-time Aussie, and still paying US taxes?
>
> To the extent your trip was dedicated to inspection, maintenance and or
> administration of the rental properties, the answer is, "Yes."
>
> But the IRS is not going to be unaware of the probability that you
> conducted other activities in your self-interest, during your visits
> back to the States. So it would be prudent to allocate the expense in a
> reasonable manner, to reflect the mixed purposes.
>
> Bill
>
> --
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1. Yes, still paying US taxes as a temp resident of AU; they get you
everywhere, as do the Aussies, if you were a citizen here.
2. As for the rental inspection, I mean, technically, how does one
proportion this if one visits the house, checks comparables in the
newspaper, spends only maybe 2 hours of a 14-day trip? Get a
percentage from 2 hours of 14 days?!?!?! Man, the flight alone takes a
day! And you need recovery time. And what about costs? A business
class ticket costs $14K? Are there limits? These seems like an
excessively gray area, no? Are their any specifically worded regs?
========================================= MODERATOR'S COMMENT:
please trim the post to which you are responding
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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