RV Loan Interest Deduction yes or no?

Ron3rd wrote:

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.

Thing is, corporations never have paid any tax. It was those that did business with them. My company, for instance, all taxes owed by me to the gooberment is passed on to those that pay for my services.

So, while it may seem like a corporate tax cut, it is actually a tax cut for everyone. That is less tax that the consumer has included in the price of goods or services. All the corporate tax thing really is all about is a bait and switch thing for government to get more money from the individual citizens without them thinking they are getting taxed and then gin them up with nonsense that these corporations need to pay more and drive corporate taxes up, in which case those corporations just raise the cost of goods or services to cover that and it is the consumer that gets hosed. And politicians just laugh about how stupid the average citizen is at this game, when they get together at fund raisers and social gatherings.