Question Is RV financing interest considered tax deductible?

[beer family]

If my RV is not my primary residence, can I write off interest on financing?

 

[sheridany]

The short not very helpful answer is it depends. You should really consult with a tax professional who knows your financial picture as everyone is different. There may be options depending on your situation.

 

[Underboss]

Not sure but remember the tax changes from 5/6 years ago max these write offs at 10k. Mortgage, property tax etc

 

[Neal]

For me I believe it is a yes and I supply the info to my accountant. My motorhome is considered my second home.

 

[Alan_Hepburn]

For me I believe it is a yes and I supply the info to my accountant. My motorhome is considered my second home.

Just remember that you can only have ONE second home, so if you have a cabin by the lake, an RV, and a boat you can only get the deduction for one of them.

 

[Texas Clodhopper]

I have been deducting the interest for 17 years as a second home.

 

[osuallen]

Not sure but remember the tax changes from 5/6 years ago max these write offs at 10k. Mortgage, property tax etc

Mortgage is not included in the $10k cap. Only state and local taxes.

 

[Underboss]

Mortgage is not included in the $10k cap. Only state and local taxes.

Yes, was meaning to edit it but would forget whenever I logged in