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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Thom02099 wrote:jesseannie wrote:
It will take awhile to sort out but I understood that the interest on 2nd homes was not going to deductible going forward. For tax year 2017 yes.
Jesseannie
^^^^ This.
Unless it got caught up in the myriad compromises and re-writes. My understanding from the news sources I watch, with the signing of the tax bill, this comes to an end in 2018 and beyond.
As it currently stands, as long as certain requirements are met for the living space, an MH/Trailer is considered a second home. Your lender, if they are efficient, should be providing an end of year statement of interest, or you should be able to go to their website and print one off.
You could very well be correct; To pay for the huge corporate tax cut, other deductions that were once available to you and me will probably be eliminated.
