RV Loan Interest Deduction yes or no?

SidecarFlip wrote:

johnwalkerpa1 wrote:
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 home mortgage interest still deductible in general (I know that home equity loans are NOT)
2. Do RVs still qualify as second homes?

And...please no politics or discussion about if either of the above two items or the tax law in general is good, bad, or indifferent :) There are MANY other places for that debate...

Just a simple question...Thanks..

Pretty simple. You primary dwelling is but a second home is not and RV might be considered a second home bit a second home is not (deductible so neither is the RV.

That's not correct; the RV is considered a second home for tax purposes if it meets certain requirements, ie, must be self-contained and the INTEREST ON A LOAN on these types RVs is tax deductible. We've been taking the deduction for 14 years. However, if you do not have a loan, there is nothing to deduct.

To be clear, the only thing deductible is the interest on the loan. The loan itself is not deductible.

As mentioned above, it's an open question whether this deduction will still be available under the new tax law.