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
snowfitter wrote:
I think the IRS sent thousands of letters to people fishing for more money.
Maybe.
The second home interest deduction is one of the top three frauds according to some articles I've seen. As many as 2/3 of the returns which claim a second home/vacation home are not real.
Some families have been hit because six or seven people claim the interest deduction for the same vacation home.
Claiming interest deduction for a second home is one of several items which flags a tax return for additional scrutiny.
