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
We bought our motorhome through Camping World and they set up the financing with Bank of the West. They refused to send a 1098 and would only send a yearly interest statement. I received the letter from the IRS and replied with a letter containing a copy of the interest statement, a complete description of our class A motor home and a copy of the IRS tax law that describes the deduction of the interest paid for our motor home. I mailed it return receipt requested and got a reply in about 4 weeks saying they received my letter. It took them another 2-3 weeks to send me the determination of CASE CLOSED...
0$ OWED! Since the bank refuses to send the 1098, I assume I will get these letters every year so I will just photocopy these papers and send them on to the IRS each year they contact me. Hope this helps.
I'm mad that Camping world didn't tell us about what we had to look forward to because I'm sure they have had many calls from other customers with the same problems considering they set up the financing with this bank.
0$ OWED! Since the bank refuses to send the 1098, I assume I will get these letters every year so I will just photocopy these papers and send them on to the IRS each year they contact me. Hope this helps.
I'm mad that Camping world didn't tell us about what we had to look forward to because I'm sure they have had many calls from other customers with the same problems considering they set up the financing with this bank.
