I purchased a home in another state that has needed major rehab and renovation. I have been traveling to the location to organize, design, and monitor the numerous jobs performed by contractors (all verifiable via receipts).
While I do realize that I can not include my own time and contributions (*) to increase the cost basis, it would at least seem logical to be able to include travel expenses. But logical and actual only sometimes coincide: so what is the latter in this case?
(*) I was deeply involved in the design aspects of critical work including foundation repair and retaining wall construction. The results were achieving a higher "lift" and greater structural support for the foundation repair and a more appropriate retaining wall for the terrain with a longer lifetime and better drainage characteristics. Licensed, experienced contractors performed the physical work but the costs would have been higher and the results less effective without my involvement. I do understand that my design time can not be included in the cost basis .
