RV interest deduction
So, when we had a travel trailer we would get from that lender a form about interest paid in the previous year. Like clockwork. When we purchased our motorhome last year, we ended up with the lend...
Forum Discussion
2oldman wrote:
Do your taxes online.
That's fine if you know the law which most people don't.
Lenders generally do not issue a 1098 for interest paid on RV loans. You will usually have to request that information which hopefully will be given to you in writing. Remember to take the deduction on Line 11 of Schedule A, not on the mortgage interest line. On Line 11 put down the name of the lender and RV loan and the amount of the interest.
As a side note, an RV publication stated that in 2018 you could not deduct the interest paid on any towables. That was in error. You will still be able to deduct the interest paid on a towable in 2018.
