IRS and the Interest Deduction
Anybody else having issues with the IRS on the mortgage interest deduction for the motorhome as a second home? My motorhome is financed through Wells Fargo Bank. For the entire life of the loan they...
Forum Discussion
Bill.Satellite wrote:
The simple answer is NO, you should not have any issues deducting your RV as a 2nd home unless you have something else that would be considered a 2nd home. You should be getting a 1099-int for the RV loan but if you don't you should be able to request one. Even without that, you must have proof that you paid interest on a loan related to your RV (the only thing that could be considered a 2nd home) and this will be usable as proof of ownership.
Okay, but if you read what I wrote I did all that and they are saying no good. Just wondering if anybody else is having this issue. They have given a phone number to call them so I'll try calling on Monday, but I think we all know how well that is going to work. I think what I'll do first is contact Wells Fargo and see if I can get them to issue a 1099 for the loan.
