IRS and the Interest Deduction
Anybody else having issues with the IRS on the mortgage interest deduction for the motorhome as a second home? My motorhome is financed through Wells Fargo Bank. For the entire life of the loan they...
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We are financed with Bank of the West, third coach I have had with them.
Here is the text of the year end statement they send:
THE INTEREST PAID ON YOUR BANK OF THE WEST ACCOUNT IS INDICATED BELOW. WE
RECOMMEND THAT YOU CONSULT A TAX ADVISOR OR THE IRS TO DETERMINE THE
APPROPRIATE AMOUNT DEDUCTIBLE TOR TAX PURPOSES. PLEASE RETAIN THIS COPY FOR
YOUR RECORDS AS WE DO NOT MAII SECONDARY NOTICES OR 1098 FORMS FOR YEAR-END
INTEREST INFORMATION. IE YOU HAVE ANY QUESTIONS, PLEASE FEEL FREE TO CALL OUR
CUSTOMER SERVICE DEPARTMENT AT 800-827_7500.
: LOAN NUMBERxxxxxxxxxxxxxxx TOTAL FINANCExxxxxxxx BANK OF THE WEST COLLATERAL
; CHARGES PAID DESCRIPTION
2012 PHAETON 36QSH
I do use an accountant to prepare my return and this amount is on a separate line. Have never hear from IRS about this issue, yet. Now I have no mortgage as I have no house so MH is my primary residence.
Here is the text of the year end statement they send:
THE INTEREST PAID ON YOUR BANK OF THE WEST ACCOUNT IS INDICATED BELOW. WE
RECOMMEND THAT YOU CONSULT A TAX ADVISOR OR THE IRS TO DETERMINE THE
APPROPRIATE AMOUNT DEDUCTIBLE TOR TAX PURPOSES. PLEASE RETAIN THIS COPY FOR
YOUR RECORDS AS WE DO NOT MAII SECONDARY NOTICES OR 1098 FORMS FOR YEAR-END
INTEREST INFORMATION. IE YOU HAVE ANY QUESTIONS, PLEASE FEEL FREE TO CALL OUR
CUSTOMER SERVICE DEPARTMENT AT 800-827_7500.
: LOAN NUMBERxxxxxxxxxxxxxxx TOTAL FINANCExxxxxxxx BANK OF THE WEST COLLATERAL
; CHARGES PAID DESCRIPTION
2012 PHAETON 36QSH
I do use an accountant to prepare my return and this amount is on a separate line. Have never hear from IRS about this issue, yet. Now I have no mortgage as I have no house so MH is my primary residence.
