RV Loan Interest Deduction yes or no?
Hello all, I did some research and even read the actual text of the new tax law. Maybe I missed it but I have been unable to find a concise answer....So....Does anyone know if: 1. IS Second hom...
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It's really pretty simple: interest on a maximum of $750,000 of new acquisition debt is deductible if you don't take the Standard Deduction. The old number was $1.1M of debt (which is grandfathered if that is where you are at now). On first and second home (most RV qualify as second home - some don't, check the rules, they didn't change).
Source: TaxPolicyCenter.org
Source: TaxPolicyCenter.org
