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Subject:  Deductions from expenses related to failed deals Date:  1/28/2003  5:32 PM
Author:  foobarista Number:  63277 of 127642


We were actively looking at income property in 2002, but none of the
deals went through for various reasons. Are expenses related to
persuing those deals tax-deductible? And if so, where do they go on
the tax forms? (ie, they don't appear to be Schedule E, since we
didn't actually buy the properties. Or do they go there?)

Most of our expenses were appraisals, inspections, and
travel, and we kept all the receipts and logs.


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