IRS and the Interest Deduction

msmith1199 wrote:

2oldman wrote:
Did you file on paper ? Sounds like it. You can get away with much more if you file online. The IRS loves that.

I filed online. You don't even send in the 1098's when you file online. This is probably why the computer kicked it out since it sounds like most lenders are not giving 1098's on RV loans. It also looks like there may have been a mistake on my return since there is a separate line on the schedule A for reporting mortgage interest that you did not received a 1098 for. The instructions for schedule A say to report that on a different line and you are also supposed to include a written explanation as to why you didn't get a 1098. I don't recall Turbo Tax covering that although it may have and I just missed it. I'll pay attention this year when I file my taxes. One problem is when you use Turbo Tax and file online, you can't attach supporting documents or written explanations.

Sounds like this may be good info for anybody writing off your RV loan interest as a second home. Make sure you follow the instructions in Schedule A if you don't get a 1098. I'm also going to contact Wells Fargo and see if I can convince them to send me a 1098 for this year and future years. I know I filled out my 2012 taxes the same as my 2011 taxes so when they catch up with 2012 I imagine I'm going to get the same letter from the IRS.

You have hit the nail on the head with the statement about the wrong line. I did the same with the same bank and got the same letter from IRS but as I remember the copy of the letter from the bank was all that was needed. The following year I used the correct line and all is good, so far I hope.
Also good luck with Wells Fargo sending a 1098 form

JimR