Travel Costs

If you have rental property in another state and you take a trip to check up on it, is the trip tax deductible? Yes it is. The cost of travel for the management or conservation of investments is deductible per the IRS. If you drive to your broker's office to go over your portfolio, that trip is also deductible. Make sure you keep up with the mileage. However going to a shareholder's meeting (except for a proxy fight) or an investment seminar is not deductible.

Investment Travel

Trips to your broker, investment adviser, and to look after investment property are deductible. Be sure to keep track of your mileage and you can deduct 57.5 cents per mile for 2015. Costs to attend investment seminars or conventions and trips to attend stockholder meetings are nondeductible.

INVESTMENT TRAVEL

You can deduct trips to your broker, financial advisor, and to look after investment property. However, you can't deduct attending shareholder meetings with certain exceptions such as proxy fights, or investment seminars and conventions. The management or conservation of investments is generally deductible.