Costa Rican Corporation + Business travel

Technical topics regarding tax preparation.
#1
AnitaL  
Posts:
149
Joined:
27-Jun-2014 10:40am
Location:
Wilmington, NC
Taxpayer owns a Costa Rican corporation, which holds a rental property.
Taxpayer wants to know if he can deduct travel between US and this rental property. My gut says no, because it is a foreign corporation, so why would US allow the deduction.

He's pretty insistent, though.

I think he could deduct the travel on his Costa Rican corporation. That corporation has not yet shown a profit, so no Worldwide income has been claimed on his US tax return.

Any help would be most appreciated. Feel like i'm in the weeds on this one.
 

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