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What mileage can be claimed on Sch. E for a residential rental.

hmosbergea
Level 3

Taxpayer spent 4 months renovating residential rental (several trips totaling1100 miles one way). There is NO home office.

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TaxGuyBill
Level 15

If it was for renovation, I would think it would be added to the Basis of that renovation, rather than a direct deduction.

With that in mine, yes, I would use the mileage as a 'cost' to add to the Basis (assuming that was the primary purpose of the trip).

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3 Comments 3
TaxGuyBill
Level 15

If it was for renovation, I would think it would be added to the Basis of that renovation, rather than a direct deduction.

With that in mine, yes, I would use the mileage as a 'cost' to add to the Basis (assuming that was the primary purpose of the trip).

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hmosbergea
Level 3
1) Round trip? 2) Without a home office, not "just commuting"?
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TaxMonkey
Level 8
Traveling outside your metro area is not commuting - it is traveling
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