The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Buying rental land...||Date: 5/6/2011 6:51 PM|
|Author: foo1bar||Number: 113371 of 121256|
I might have the opportunity to buy farmland adjacent to my uncle's land.
Which I'd rent to him, and possibly in 20 or so years it could be developed.
I'm wondering is what it'd mean tax-wise...
When I make a trip to the area (~$1200 in plane tickets for the family), would I be able to claim that as a business expense to go collect the rent and inspect the property?
And what would be the pros/cons of buying it in a Roth IRA?
Or a regular IRA?
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