RV Loan Interest Deductable?

Cyclonic
Cyclonic Posts: 1,232
in Looking to purchase a trailer?
This discussion was created from comments split from: which model to buy? wet bath vs porta potty.

States the T@Bpole has camped, so far ;)
Nathan & Becky... 2013 Ford F150 FX4 TAB HLR... 2012 LG T@B T@Bpole.
Sterling, VA

Comments

  • Photomom
    Photomom Posts: 2,217
    This may or may not still be true, but I believe that at one time interest on an RV loan was deductible, as long as the RV had a kitchen and bathroom. It was considered a "second home." Does anyone know if this is still the case?
    John and Henrietta, Late 2016 T@B S Max in Western New York
  • Nomad
    Nomad Posts: 7,209
    Think it's still the case - Pretty sure any way.
  • Photomom
    Photomom Posts: 2,217
    edited December 2015
    You should definitely check with your tax advisor about this! But this may be of interest: https://www.irs.gov/taxtopics/tc505.html
    John and Henrietta, Late 2016 T@B S Max in Western New York
  • Mr_Mrs_Gnome
    Mr_Mrs_Gnome Posts: 241
    Talked with my tax guy and the qualifiers are, sleeping area, kitchen and bathroom. Found this too: https://ttlc.intuit.com/questions/2174952-can-i-claim-interest-on-my-rv-camper
    Also asked about tax credit for solar. Only on primary residence.
    '17 Outback S - TV 2016 Chevy Colorado in "Colorful Colorado"
  • John_and_Kris
    John_and_Kris Posts: 302
    We are still deducting interest per our accountant 
    John - Kris & our Golden "Blossom"
    South Carolina
    Live simply,Love generously,Care deeply,Speak Kindly,Leave the rest to God
  • kybob
    kybob Posts: 232
    I thought I read somewhere in the tax code that the sleeping area and the dining area had to be separate.
    2018 Outback S, Silver/Black - 2015 Silver Honda Pilot 4WD - Florence, KY

Categories