Motorhome & Recreational Vehicle Resource

Since 1996

Search RV-Coach Online

Email Author email RG  Reply to Message reply to message  Post New Message post new message      search forums
ATTENTION: DO NOT POST ADS IN FORUMS!
All Postings that advertise items for sale will be deleted from the Discussion Forum. You may post sale items for free in the Classifieds section. Sign up now.
Re: RV Tax Deduction by RG
Post New Message Here's what the IRS states regarding tax deduction of an RV/Motorhome/etc. that "you choose to treat" as a second home.

----IRS Cut & Paste ---
Qualified Home
For you to take a home mortgage interest deduction, your debt must be secured by a qualified home. This means your main home or your second home. A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities.

The interest you pay on a mortgage on a home other than your main or second home may be deductible if the proceeds of the loan were used for business, investment, or other deductible purposes. Otherwise, it is considered personal interest and is not deductible.

Main home. You can have only one main home at any one time. This is the home where you ordinarily live most of the time.

Second home. A second home is a home that you choose to treat as your second home.

Second home not rented out. If you have a second home that you do not hold out for rent or resale to others at any time during the year, you can treat it as a qualified home. You do not have to use the home during the year.

Second home rented out. If you have a second home and rent it out part of the year, you also must use it as a home during the year for it to be a qualified home. You must use this home more than 14 days or more than 10% of the number of days during the year that the home is rented at a fair rental, whichever is longer. If you do not use the home long enough, it is considered rental property and not a second home. For information on residential rental property, see Publication 527.

More than one second home. If you have more than one second home, you can treat only one as the qualified second home during any year. However, you can change the home you treat as a second home during the year in the following situations.
If you get a new home during the year, you can choose to treat the new home as your second home as of the day you buy it.

If your main home no longer qualifies as your main home, you can choose to treat it as your second home as of the day you stop using it as your main home.

If your second home is sold during the year or becomes your main home, you can choose a new second home as of the day you sell the old one or begin using it as your main home.

---- END of Cut & Paste ----
Hope that answers your questions.

RG
All Messages in ThreadAuthorDate
Post New MessageRV Tax Deduction Tom 10-5-03  
  Reply to MessageRe: RV Tax Deduction Tommy bean 7-23-13  
  Reply to MessageRe: RV Tax Deduction ShaRon E Conway 12-2-08  
  Reply to MessageRe: RV Tax Deduction ShaRon E Conway 11-26-08  
  Reply to MessageRe: RV Tax Deduction Karen 7-26-08  
  Reply to MessageRe: RV Tax Deduction Erik Kiehle 5-16-09  
  Reply to MessageRe: RV Tax Deduction Janet 6-26-09  
  Reply to MessageRe: RV Tax Deduction Karen High 1-16-10  
  Reply to MessageRe: RV Tax Deduction ROBERT 7-29-09  
  Reply to MessageRe: RV Tax Deduction Janet 6-26-09  
  Reply to MessageRe: RV Tax Deduction Hayden DeLand 6-23-08  
  Reply to MessageRe: RV Tax Deduction mark brown 4-4-08  
  Reply to MessageRe: RV Tax Deduction rrk 9-6-04  
  Reply to MessageRe: RV Tax Deduction Greg 8-10-04  
  Reply to MessageRe: RV Tax Deduction lhyzer 4-20-04  
  Reply to MessageRe: RV Tax Deduction Judy Hogan 2-14-05  
  Reply to MessageRe: RV Tax Deduction Dennis Nun 4-20-05  
  Reply to MessageRe: RV Tax Deduction Ed Tibra 10-6-07  
  Reply to MessageRe: RV Tax Deduction Bill 10-26-06  
  Reply to MessageRe: RV Tax Deduction RG 8-20-06  
  Reply to MessageRe: RV Tax Deduction GramaTuesday 1-26-10  
  Reply to MessageRe: RV Tax Deduction Tami Ambler 3-9-09  
  Reply to MessageRe: RV Tax Deduction Roy Myers 1-24-11  
  Reply to MessageRe: RV Tax Deduction pat yancey 12-31-10  
  Reply to MessageRe: RV Tax Deduction pat yancey 12-31-10  
  Reply to MessageRe: RV Tax Deduction Brittany 12-2-10  
  Reply to MessageRe: RV Tax Deduction bill 8-4-11  
  Reply to MessageRe: RV Tax Deduction Diane 4-9-12  
  Reply to MessageRe: RV Tax Deduction jeremy 2-2-13  
  Reply to MessageRe: RV Tax Deduction Maria 1-30-13  
  Reply to MessageRe: RV Tax Deduction Bill F 2-6-10  
  Reply to MessageCan i write off the purchase of a camper jeffery stoppelmnn 11-9-10  
  Reply to MessageRe: RV Tax Deduction Jan 12-31-12  
  Reply to MessageRe: RV Tax Deduction Lisa 2-22-10  
  Reply to MessageRe: RV Tax Deduction Diana 2-17-10  
  Reply to MessageRe: RV Tax Deduction Diana 2-17-10  
  Reply to MessageRe: RV Tax Deduction Ken Koshar 7-13-10  
  Reply to MessageRe: RV Tax Deduction JEFF 3-12-10  
  Reply to MessageRe: RV Tax Deduction Deb 7-7-10  
  Reply to MessageRe: RV Tax Deduction Courtney 3-14-10  
  Reply to MessageRe: RV Tax Deduction Ray Powell 4-16-10  
  Reply to MessageRe: RV Tax Deduction Pastor R Badenhorst 3-18-10  
    Reply to MessageRe: RV Tax Deduction gary 6-17-05  
      Reply to MessageRe: RV Tax Deduction mel 9-19-04  
        Reply to MessageRe: RV Tax Deduction Tom Lindsay 1-28-06  
          Reply to MessageRe: RV Tax Deduction shelley 7-13-07  
          Reply to MessageRe: RV Tax Deduction Bette Blair 2-8-09  
            Reply to MessageRe: RV Tax Deduction mary 1-9-08  
              Reply to MessageRe: RV Tax Deduction Les Skulski 11-10-09  
                Reply to MessageRe: RV Tax Deduction Joanie Babel 8-12-08  
                Reply to MessageRe: RV Tax Deduction Janet 10-15-08  
                Reply to MessageRe: RV Tax Deduction Peggy 4-16-10  
                  Reply to MessageRe: RV Tax Deduction ShaRon Conway 5-21-09  
                    Reply to MessageRe: RV Tax Deduction Patti Vaughn 8-26-09  
                      Reply to MessageRe: RV Tax Deduction Roger 2-5-10  
                        Reply to MessageRe: RV Tax Deduction Liz Smith 11-10-09  
                          Reply to MessageIf I rent my home and live full time in a fifty wheel is the interest and taxes deductible Charlett 3-3-12  
Required fields in red
For more info about a field, place your mouse over the More Info icon.
Subject:
Your Name:
Your Email:
Message:



Code is case-sensitive. Helps stop SPAM.
       


Advertise Here
Get Media Kit NOW!






Get Media Kit to Advertise!

Advertiser Links

Back to Top