The IRS
allows you to deduct travel for investment purposes, but the rules are strict.
First, the travel is deductible if it is for the production or collection of income
or for the management, conservation, or maintenance of property held for the production
of income. This means that you may be able to deduct travel expenses to maintain
your rental property, or to visit your stockbroker. However, you generally
may not deduct travel to spend time in your second home, or to attend a shareholder's
meeting. Travel to an investment seminar or convention is never deductible. If
you travel to investigate buying property or an investment, the travel is not
deductible until you acquire the property. At that time, the travel is added to
the cost of the property. Whenever you travel for investments,
remember that the courts have ruled that travel for investments must be:  Rationally
and systematically planned.
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Reasonable
in cost with respect to the investment involved
Not
disguised to conceal personal motive
If you do have deductible travel,
be prepared to show the following: Documentation
of expenses incurred on the trip
Investment
purpose of the trip
Relative
amounts of investment activity versus personal activity
The
relationship between the travel and the investment, including knowledge or value
gained by taking the trip
Remember also that the costs of taking a spouse
on a business or investment trip are generally not deductible. Worse, the IRS
may use the spouse's attendance as evidence that the trip was primarily for personal
reasons. | 
