TT and tax deductions
Hello We bought our first TT in June 2013. I vaguely remember the salesman saying something to do with a tax deduction on the TT because it is considered a second home. Can anyone tell me more abou...
Forum Discussion
Any RV buyer who already uses Sch A should be able to deduct the RV interest.
tatest wrote:
They tend to oversell this idea, to sell RVs. Not a lot of buyers can make use of the interest deduction.
To make it worth while, the sum of your itemized deductions needs to exceed your standard deduction. Interest on a RV loan might not get you there. Taxes and interest on two stick and brick homes no longer take me past the standard deduction. Last time I was able to itemize that much, it included about $25K in medical expenses (my share, not the half million my insurer paid out).
