Home deduction.
Last year may be the last year we can claim the interest deduction on homes and RVs. I haven't heard it being reinstated. But... Last year as years before we spent a substantial bit of money on being...
Forum Discussion
jrwitt wrote:
Depending on what state you live in, you may also be able to deduct a portion of your registration cost each year. This is deductible on your federal tax even though it is based on how the state charges for your car tags. In Colorado it is called "ownership tax." Basically, if your state (that your RV is registered in) bases the cost of your annual registration fee on the value of the motorhome for that year, then it is deductible. That doesn't mean you can deduct all of the registration fee. Only the part that is based on value. You can probably find out if it applies in your state by looking at the itemized registration receipt. BTW ... this also applies to your cars. No limit that I know of on how many vehicles you can take this deduction for. And it is only deductible if there is a portion of the registration amount that is value based. Any vehicle that you buy tags for, including trailers, qualifies if it is based on value.
In NV it's called Government Services Tax which is based on the value of the vehicle. I deduct that portion for all of my vehicles.
