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
tyoungs wrote:
When I had the same issue, I asked the bank to send me a letter stating the interest paid, and that the loan was on 20xx Holiday Rambler motor home. I included a copy of that letter with my response and it was accepted as resolution.
I may have to do that because I did send them the end of year statement, but no place on the statement does it say what the loan is for. It actually says "Personal Loan" on it. It's possible that is what the IRS has the issue with too. Sure would be nice if when the IRS responds to you they wouldn't just say, sorry that's not good enough, and instead tell you why it's not good enough and exactly what they need.
