Where do I enter Travel Expenses incurred on purchase of rental property?
@aadvtec This is a question for a qualified CPA. While Stessa supports a category for travel expenses under “Admin & Other > Travel,” this is generally for operational travel expenses for existing investment properties. Pursuit costs are often capitalized, not expensed, but only certain costs are permissible in certain circumstances under IRS regulations. For those items that can be capitalized, there’s a “Capital Expenses > Closing Costs” category.
Please consult your CPA before making final decisions about how to expense travel costs.