<p>I like to read and to drink</p>
<p>or I like to read and drink</p>
<p>which is correct</p>
<p>The first is correct. There are two infinitives (to read and to drink) each functioning as the direct object of "like."</p>
<p>I do not know with any certainty whether the second is acceptable or not. In parallel structure, it is common for a preposition to appear only at the beginning of a list if it applies to every item in the list. If this rule generalizes, then I suppose the second would be acceptable.</p>
<p>Yes, both are acceptable. Saying "I like to read and to drink" is redundant; the second "to" is not necessary.</p>