Tax day and RV's
Another tax year and still can't find a way to take RV off taxes. I downloaded wrong tax forms, because I can't find the box to put my senior pass number to get 1/2 off.:B
Forum Discussion
trnfla wrote:Thomas/NH wrote:
How about buying a new one, finance it, declare it a second home and deduct the interest. Just have to spend more than 14 nights to qualify.
I don't believe this is true. There is no requirement to spend 14 nights, it only has to have a kitchen and bathroom and be your only second home to qualify for a interest deduction.
This deduction only applies if you have enough to itemized. Which now takes a lot to be able to reach the standard limit.
Mostly depends on your earning, and other deductions. I meet the standard every year. I always use my RV, and house interest, along with my city, and county taxes. Plus property taxes on my vehicles, including the RV.
And no. There is no 14 day requirement. The only requirement is that the RV be used as collateral for the loan
