TT and tax deductions

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pub 530

2013 Instructions for Schedule A (Form 1040)
Itemized Deductions

Lines 10 and 11
Home Mortgage Interest
If you are a homeowner who
received assistance under a
State Housing Finance Agency
Hardest Hit Fund program or an Emergency
Homeowners' Loan program, see
Pub. 530 for the amount you can deduct
on line 10 or 11.
A home mortgage is any loan that is secured
by your main home or second
home. It includes first and second mortgages,
home equity loans, and refinanced
mortgages.
A home can be a house, condominium,
cooperative, mobile home, boat, or
similar property. It must provide basic
living accommodations including sleeping
space, toilet, and cooking facilities.

IRS Publication 936

Hardly scintillating reading, but you should be able to determine if the loan interest on your RV is deductible. Good luck!

Thanks for the quick replies! Trying to get my taxes done while I'm staying in my house out of the deep freeze.

Please refer to IRS publication 936, "deductibility of home mortgages"
Thank you

Our tax adviser told us last year that we could deduct the interest.

Sorry you don't get to deduct your sales tax. You can deduct the interest on the RV loan as a second home, if you go long form on your Federal Taxes. Use schedule A just like on your original home.

Greydennyhawk wrote:
If the debt on your RV is secured by your RV , and it has cooking, sleeping and toilet facilities, the interest on this debt is deductible.
Check with your tax advisor

Do you deduct anything on your taxes for your RV? Unless you're using it for business, how do you do it? What's the tax code? Please advise.

Greydennyhawk wrote:
If the debt on your RV is secured by your RV , and it has cooking, sleeping and toilet facilities, the interest on this debt is deductible.
Check with your tax advisor

You are allowed to deduct your main home and 1 second home/rv loan interest as long as the rv has the items above.

If the debt on your RV is secured by your RV , and it has cooking, sleeping and toilet facilities, the interest on this debt is deductible.
Check with your tax advisor

Wow! If someone can answer that question, I'll kiss you! I've had H&R Block prepare my taxes for the last ba-zillion years and I've never been able to deduct a single penny. What's the answer ... please tell!