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L
lnormando
April 14, 2021
Question

I hold mortgages on properties I have sold and I have expenses associated with those mortgages such as mileage, meals, and management fees. Where do I expense these types of expenses? Thanks. Larry

  • April 14, 2021
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    1 reply

    KrisD15
    KrisD15
    April 14, 2021

    If these were rentals, you would report those expenses on Schedule E.

    If these are investments, those expenses are not deductible. 

     

    If you are in the loan business, you could deduct those expenses as business expenses, but you may need to be registered and/or licensed with the state. 

     

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